Filed January 26, 2018
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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.4+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $61,470 |
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 | $51,957 | $45,825+13.4% | $90,657-42.7% | $56,289-7.7% |
| Participation rate | 96.8% | 66.7%+30.1pp | 74.0%+22.8pp | 69.9%+27.0pp |
| Annual return | -5.88% | 38.64%-44.5pp | 1.89%-7.8pp | -9.96%+4.1pp |
| Employer contribution / active EE | $1,528 | $1,372+11.4% | $2,532-39.6% | $2,111-27.6% |
| Participant deferral / active EE | $2,380 | $2,562-7.1% | $3,424-30.5% | $3,350-29.0% |
| Admin fee / account holder | $355 | $413-14.0% | $4,994-92.9% | $521-31.9% |