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.4+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $78,056 |
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 | $78,851 | $79,523-0.8% | $140,016-43.7% | $56,287+40.1% |
| Participation rate | 98.2% | 85.7%+12.5pp | 87.5%+10.7pp | 69.9%+28.3pp |
| Annual return | -4.68% | 2.39%-7.1pp | 651.12%-655.8pp | -9.96%+5.3pp |
| Employer contribution / active EE | $3,836 | $3,350+14.5% | $5,606-31.6% | $2,111+81.7% |
| Participant deferral / active EE | $3,549 | $5,129-30.8% | $6,927-48.8% | $3,350+6.0% |
| Admin fee / account holder | $309 | $614-49.8% | $10,705-97.1% | $521-40.8% |