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| Provider | Service type | Compensation |
|---|---|---|
Filed as: ALDRICH WEALTH LIMITED PRTNERSHIP Service code 27 · EIN 93-1244319 | Advisory (Plan) | $23,847 |
ALERUS FINANCIAL, N.A.2 years Filed as: ALERUS RETIREMENT SOLUTIONS Service code 60 · EIN 45-6062081 | Sub-TA Fees | $19,660 |
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 | $97,492 | $52,967+84.1% | $172,753-43.6% | $65,186+49.6% |
| Participation rate | 53.2% | 66.2%-13.0pp | 82.6%-29.4pp | 70.2%-17.0pp |
| Annual return | 24.23% | 30.12%-5.9pp | 803.00%-778.8pp | 29.39%-5.2pp |
| Employer contribution / active EE | $1,748 | $2,190-20.2% | $5,144-66.0% | $2,177-19.7% |
| Participant deferral / active EE | $4,216 | $2,471+70.6% | $5,198-18.9% | $3,514+20.0% |
| Admin fee / account holder | $558 | $472+18.2% | $13,956-96.0% | $847-34.2% |