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| Provider | Service type | Compensation |
|---|---|---|
Filed as: KESTRA FINANCIAL, INC. Service code 16 · EIN 47-1566880 | Consulting | $21,021 |
ALERUS FINANCIAL, N.A.2 years Service code 15 · EIN 45-6062081 | Recordkeeping | $15,099 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
Annual investment return is in the bottom quintile of the peer cohort.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $37,820 | $53,165-28.9% | $86,209-56.1% | $74,440-49.2% |
| Participation rate | 61.7% | 64.9%-3.2pp | 69.0%-7.3pp | 70.7%-9.1pp |
| Annual return | 13.53% | 22.64%-9.1pp | 1169.05%-1155.5pp | 34.37%-20.8pp |
| Employer contribution / active EE | $369 | $1,210-69.5% | $2,381-84.5% | $2,638-86.0% |
| Participant deferral / active EE | $1,389 | $3,234-57.1% | $3,986-65.2% | $4,529-69.3% |
| Admin fee / account holder | $118 | $551-78.6% | $6,853-98.3% | $348-66.1% |