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.7+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $52,864 |
ALERUS FINANCIAL, N.A.1 year Filed as: ALERUS INVESTMENT ADVISORS, INC. Service code 26 · EIN 42-1378382 | Advisory (Participants) | $50,719 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $122,992 | $121,341+1.4% | $189,513-35.1% | $79,386+54.9% |
| Participation rate | 99.5% | 86.1%+13.4pp | 87.8%+11.7pp | 70.7%+28.8pp |
| Annual return | 15.33% | 21.08%-5.7pp | 555.15%-539.8pp | 116.85%-101.5pp |
| Employer contribution / active EE | $5,065 | $3,915+29.4% | $6,162-17.8% | $2,427+108.6% |
| Participant deferral / active EE | $4,571 | $6,395-28.5% | $8,221-44.4% | $4,046+13.0% |
| Admin fee / account holder | $360 | $651-44.8% | $12,045-97.0% | $626-42.6% |