Sign up free to preview peer percentile detail
Free accounts unlock saves, downloads, and 3-year history.
Sign up free to preview 10-year trajectory
Free accounts unlock saves, downloads, and 3-year history.
| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.2+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $5,810 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $14,502 | $75,183-80.7% | $123,894-88.3% | $55,167-73.7% |
| Participation rate | 22.3% | 72.8%-50.5pp | 81.4%-59.1pp | 69.0%-46.7pp |
| Annual return | 7.06% | 19.01%-12.0pp | 47.52%-40.5pp | 169.23%-162.2pp |
| Employer contribution / active EE | $0 | $2,823-100.0% | $4,617-100.0% | $1,963-100.0% |
| Participant deferral / active EE | $936 | $5,084-81.6% | $5,984-84.4% | $3,054-69.4% |
| Admin fee / account holder | $65 | $663-90.3% | $8,357-99.2% | $504-87.2% |