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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.1 year Service code 15 · EIN 45-6062081 | Recordkeeping | $38,417 |
SCHENCK SC1 year Filed as: SCHENCK, S.C. Service code 10 · EIN 39-1173131 | Accounting | $19,000 |
Employer contribution per participant is in the bottom quintile of the peer cohort.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
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 | $31,145 | $80,177-61.2% | $123,894-74.9% | $57,658-46.0% |
| Participation rate | 81.9% | 74.4%+7.4pp | 81.4%+0.4pp | 70.2%+11.6pp |
| Annual return | 34.01% | 17.90%+16.1pp | 47.52%-13.5pp | 5.13%+28.9pp |
| Employer contribution / active EE | $485 | $2,913-83.4% | $4,617-89.5% | $1,974-75.4% |
| Participant deferral / active EE | $2,946 | $5,130-42.6% | $5,984-50.8% | $3,061-3.7% |
| Admin fee / account holder | $213 | $106+100.0% | $8,357-97.5% | $95+125.0% |