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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.6+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $98,240 |
Filed as: TRAVELERS CASUALTY AND SURETY Service code 23 · EIN 06-0907370 | Insurance services | $18,816 |
JFP BENEFIT MANAGEMENT, INC.6+ years Service code 12 · EIN 38-2719340 | Claims processing | $18,000 |
Service code 10 · EIN 38-2771156 | Accounting | $11,250 |
SEBER TANS, PLC2 years Service code 10 · EIN 20-0503877 | Accounting | $8,975 |
MCGINTY ET AL6+ years Service code 22 · EIN 38-2060103 | Insurance Broker | $7,864 |
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 | $153,557 | $136,307+12.7% | $177,848-13.7% | $73,497+108.9% |
| Participation rate | 100.0% | 86.1%+13.9pp | 87.7%+12.3pp | 70.7%+29.3pp |
| Annual return | 14.04% | 18.68%-4.6pp | 48.33%-34.3pp | 28.51%-14.5pp |
| Employer contribution / active EE | $9,398 | $3,712+153.2% | $5,919+58.8% | $2,270+314.0% |
| Participant deferral / active EE | $0 | $5,829-100.0% | $7,714-100.0% | $3,740-100.0% |
| Admin fee / account holder | $732 | $596+23.0% | $12,431-94.1% | $513+42.8% |