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| Provider | Service type | Compensation |
|---|---|---|
Service code 27 · EIN 93-1244319 | Advisory (Plan) | $33,998 |
ALERUS FINANCIAL, N.A.5 years Filed as: ALERUS RETIREMENT SOLUTIONS Service code 60 · EIN 45-6062081 | Sub-TA Fees | $19,463 |
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.)
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $117,085 | $65,125+79.8% | $143,797-18.6% | $66,949+74.9% |
| Participation rate | 48.8% | 65.2%-16.4pp | 80.3%-31.5pp | 69.8%-21.0pp |
| Annual return | -16.76% | -11.13%-5.6pp | -0.04%-16.7pp | 1.57%-18.3pp |
| Employer contribution / active EE | $2,301 | $2,362-2.6% | $4,952-53.5% | $2,545-9.6% |
| Participant deferral / active EE | $5,330 | $2,920+82.5% | $5,638-5.5% | $4,239+25.7% |
| Admin fee / account holder | $636 | $503+26.6% | $14,679-95.7% | $594+7.2% |