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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.2+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $82,412 |
JFP BENEFIT MANAGEMENT, INC.2+ years Service code 12 · EIN 38-2719340 | Claims processing | $18,000 |
MCGINTY ET AL2+ years Service code 22 · EIN 38-2060103 | Insurance Broker | $7,779 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
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 | $120,689 | $74,089+62.9% | $133,975-9.9% | $55,167+118.8% |
| Participation rate | 100.0% | 84.3%+15.7pp | 87.1%+12.9pp | 69.0%+31.0pp |
| Annual return | 5.81% | 12.11%-6.3pp | 29.29%-23.5pp | 169.23%-163.4pp |
| Employer contribution / active EE | $8,445 | $3,064+175.7% | $5,211+62.1% | $1,963+330.3% |
| Participant deferral / active EE | $0 | $4,678-100.0% | $6,282-100.0% | $3,054-100.0% |
| Admin fee / account holder | $737 | $458+60.9% | $9,324-92.1% | $504+46.3% |