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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.4+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $91,840 |
JFP BENEFIT MANAGEMENT, INC.4+ years Service code 12 · EIN 38-2719340 | Claims processing | $17,456 |
Service code 10 · EIN 38-2771156 | Accounting | $10,250 |
MCGINTY ET AL4+ years Service code 22 · EIN 38-2060103 | Insurance Broker | $9,824 |
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 | $129,606 | $79,523+63.0% | $140,019-7.4% | $56,289+130.3% |
| Participation rate | 100.0% | 85.7%+14.3pp | 87.5%+12.5pp | 69.9%+30.1pp |
| Annual return | -5.14% | 2.39%-7.5pp | 651.17%-656.3pp | -9.96%+4.8pp |
| Employer contribution / active EE | $8,950 | $3,350+167.1% | $5,605+59.7% | $2,111+323.9% |
| Participant deferral / active EE | $0 | $5,129-100.0% | $6,927-100.0% | $3,350-100.0% |
| Admin fee / account holder | $761 | $614+23.9% | $10,705-92.9% | $521+46.1% |