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.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.
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $98,993 | $129,021-23.3% | $184,203-46.3% | $77,643+27.5% |
| Participation rate | 16.6% | 87.3%-70.7pp | 86.8%-70.2pp | 70.6%-54.0pp |
| Annual return | 20.18% | 33.27%-13.1pp | 28.81%-8.6pp | 31.24%-11.1pp |
| Employer contribution / active EE | $7,770 | $4,413+76.1% | $6,427+20.9% | $2,726+185.1% |
| Participant deferral / active EE | $6,863 | $7,297-6.0% | $9,131-24.8% | $4,647+47.7% |
| Admin fee / account holder | $277 | $254+9.2% | $13,901-98.0% | $430-35.6% |