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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.9 years Service code 15 · EIN 45-6062081 | Recordkeeping | $50,679 |
Employer contribution per participant is in the bottom quintile of the peer cohort.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $50,278 | $79,223-36.5% | $102,460-50.9% | $74,478-32.5% |
| Participation rate | 75.7% | 74.8%+0.9pp | 76.5%-0.8pp | 67.2%+8.5pp |
| Annual return | 23.19% | 54.98%-31.8pp | 29.47%-6.3pp | 1370.56%-1347.4pp |
| Employer contribution / active EE | $738 | $2,363-68.8% | $3,025-75.6% | $2,626-71.9% |
| Participant deferral / active EE | $3,415 | $4,417-22.7% | $5,056-32.5% | $4,350-21.5% |
| Admin fee / account holder | $352 | $2,003-82.4% | $9,460-96.3% | $1,946-81.9% |