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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.10+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $217,151 |
Employer contribution per participant is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $19,899 | $48,744-59.2% | $93,696-78.8% | $199,960-90.0% |
| Participation rate | 94.1% | 63.7%+30.5pp | 68.7%+25.4pp | 72.0%+22.1pp |
| Annual return | 12.41% | 15.36%-2.9pp | 133.74%-121.3pp | 34.28%-21.9pp |
| Employer contribution / active EE | $217 | $1,140-81.0% | $2,422-91.0% | $3,036-92.9% |
| Participant deferral / active EE | $2,333 | $2,825-17.4% | $4,417-47.2% | $5,087-54.1% |
| Admin fee / account holder | $128 | $195-34.5% | $8,287-98.5% | $269-52.5% |