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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.1+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $9,075 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Annual investment return is in the bottom quintile of the peer cohort.
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 | $18,137 | $36,916-50.9% | $156,551-88.4% | $57,658-68.5% |
| Participation rate | 68.2% | 63.4%+4.8pp | 84.0%-15.8pp | 70.2%-2.0pp |
| Annual return | 0.43% | 12.38%-12.0pp | 32.23%-31.8pp | 5.13%-4.7pp |
| Employer contribution / active EE | $0 | $1,571-100.0% | $5,501-100.0% | $1,974-100.0% |
| Participant deferral / active EE | $1,942 | $1,926+0.9% | $4,871-60.1% | $3,061-36.5% |
| Admin fee / account holder | $21 | $82-75.1% | $13,028-99.8% | $95-78.3% |