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| Provider | Service type | Compensation |
|---|---|---|
Filed as: ALDRICH WEALTH LIMITED PRTNERSHIP Service code 27 · EIN 93-1244319 | Advisory (Plan) | $22,216 |
ALERUS FINANCIAL, N.A.1 year Filed as: ALERUS RETIREMENT SOLUTIONS Service code 60 · EIN 45-6062081 | Sub-TA Fees | $18,156 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $86,558 | $47,977+80.4% | $154,108-43.8% | $56,289+53.8% |
| Participation rate | 52.7% | 66.2%-13.4pp | 83.0%-30.3pp | 69.9%-17.1pp |
| Annual return | -6.66% | 3.54%-10.2pp | 735.21%-741.9pp | -9.96%+3.3pp |
| Employer contribution / active EE | $1,797 | $2,169-17.1% | $5,298-66.1% | $2,111-14.9% |
| Participant deferral / active EE | $4,073 | $2,392+70.3% | $5,081-19.8% | $3,350+21.6% |
| Admin fee / account holder | $631 | $438+43.9% | $13,411-95.3% | $521+21.1% |