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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.7 years Service code 15 · EIN 45-6062081 | Recordkeeping | $44,626 |
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.)
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 | $27,466 | $65,453-58.0% | $86,698-68.3% | $66,938-59.0% |
| Participation rate | 74.0% | 75.5%-1.5pp | 76.6%-2.6pp | 69.8%+4.2pp |
| Annual return | -14.36% | -10.89%-3.5pp | 35.95%-50.3pp | 1.58%-15.9pp |
| Employer contribution / active EE | $416 | $2,154-80.7% | $2,837-85.3% | $2,545-83.6% |
| Participant deferral / active EE | $2,287 | $4,102-44.2% | $4,656-50.9% | $4,238-46.0% |
| Admin fee / account holder | $312 | $642-51.4% | $7,493-95.8% | $594-47.4% |