Filed June 14, 2023 (most recent of 2 filings on file)
See peer percentile detail. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
See the 10-year trajectory. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.3+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $73,673 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $86,716 | $89,739-3.4% | $149,718-42.1% | $62,292+39.2% |
| Participation rate | 100.0% | 85.1%+14.9pp | 87.1%+12.9pp | 69.5%+30.5pp |
| Annual return | 15.98% | 21.01%-5.0pp | 1501.63%-1485.6pp | 28.90%-12.9pp |
| Employer contribution / active EE | $3,906 | $3,233+20.8% | $5,445-28.3% | $2,042+91.3% |
| Participant deferral / active EE | $3,447 | $4,797-28.2% | $6,569-47.5% | $3,169+8.8% |
| Admin fee / account holder | $315 | $551-42.9% | $11,283-97.2% | $479-34.3% |