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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.8+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $36,778 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $47,806 | $65,437-26.9% | $86,698-44.9% | $66,949-28.6% |
| Participation rate | 74.5% | 75.5%-0.9pp | 76.6%-2.0pp | 69.8%+4.7pp |
| Annual return | -23.47% | -10.91%-12.6pp | 35.96%-59.4pp | 1.57%-25.0pp |
| Employer contribution / active EE | $1,847 | $2,154-14.2% | $2,837-34.9% | $2,545-27.4% |
| Participant deferral / active EE | $3,146 | $4,102-23.3% | $4,656-32.4% | $4,239-25.8% |
| Admin fee / account holder | $325 | $642-49.3% | $7,492-95.7% | $594-45.2% |