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.8+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $53,077 |
ALERUS FINANCIAL, N.A.2 years Filed as: ALERUS INVESTMENT ADVISORS, INC. Service code 26 · EIN 42-1378382 | Advisory (Participants) | $50,024 |
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 | $92,273 | $102,553-10.0% | $151,611-39.1% | $66,914+37.9% |
| Participation rate | 98.7% | 85.5%+13.2pp | 87.5%+11.2pp | 69.8%+28.9pp |
| Annual return | -14.44% | -10.82%-3.6pp | 3.33%-17.8pp | 1.58%-16.0pp |
| Employer contribution / active EE | $4,857 | $4,180+16.2% | $6,166-21.2% | $2,544+90.9% |
| Participant deferral / active EE | $4,549 | $6,641-31.5% | $8,363-45.6% | $4,237+7.4% |
| Admin fee / account holder | $348 | $630-44.7% | $11,616-97.0% | $593-41.3% |