Filed January 26, 2018
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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.2+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $45,518 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $65,000 | $42,772+52.0% | $87,502-25.7% | $55,167+17.8% |
| Participation rate | 94.4% | 66.5%+28.0pp | 73.8%+20.6pp | 69.0%+25.5pp |
| Annual return | 7.27% | 21.20%-13.9pp | 12.21%-4.9pp | 169.23%-162.0pp |
| Employer contribution / active EE | $1,330 | $1,277+4.1% | $2,550-47.8% | $1,963-32.2% |
| Participant deferral / active EE | $2,127 | $2,342-9.2% | $3,149-32.5% | $3,054-30.4% |
| Admin fee / account holder | $344 | $461-25.5% | $4,221-91.9% | $504-31.8% |