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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.7+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $39,539 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $73,132 | $86,298-15.3% | $111,308-34.3% | $85,847-14.8% |
| Participation rate | 81.5% | 73.3%+8.2pp | 77.3%+4.2pp | 69.3%+12.2pp |
| Annual return | 25.32% | 19.99%+5.3pp | 54.67%-29.3pp | 318.61%-293.3pp |
| Employer contribution / active EE | $1,945 | $2,044-4.8% | $2,732-28.8% | $2,565-24.2% |
| Participant deferral / active EE | $3,562 | $3,641-2.2% | $4,487-20.6% | $3,952-9.9% |
| Admin fee / account holder | $395 | $8,189-95.2% | $7,965-95.0% | $6,261-93.7% |