Filed June 14, 2023 (most recent of 2 filings on file)
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.10+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $56,732 |
ALERUS FINANCIAL, N.A.4 years Filed as: ALERUS INVESTMENT ADVISORS, INC. Service code 26 · EIN 42-1378382 | Advisory (Participants) | $51,392 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $98,993 | $129,227-23.4% | $184,256-46.3% | $77,762+27.3% |
| Participation rate | 16.6% | 87.4%-70.8pp | 86.8%-70.2pp | 70.6%-54.0pp |
| Annual return | 20.18% | 33.24%-13.1pp | 28.85%-8.7pp | 31.27%-11.1pp |
| Employer contribution / active EE | $7,770 | $4,412+76.1% | $6,427+20.9% | $2,728+184.8% |
| Participant deferral / active EE | $6,863 | $7,307-6.1% | $9,133-24.9% | $4,651+47.6% |
| Admin fee / account holder | $277 | $256+8.4% | $13,899-98.0% | $433-36.0% |