Filed February 14, 2022
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| Provider | Service type | Compensation |
|---|---|---|
NICOLET NATIONAL BANK5 years Service code 26 · EIN 39-1990426 | Advisory (Participants) | $24,853 |
ALERUS FINANCIAL, N.A.6+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $18,821 |
HAWKINS ASH CPAS6+ years Service code 10 · EIN 39-0912608 | Accounting | $5,400 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
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 | $21,483 | $55,636-61.4% | $81,982-73.8% | $73,497-70.8% |
| Participation rate | 50.0% | 62.3%-12.3pp | 69.3%-19.3pp | 70.7%-20.7pp |
| Annual return | 23.16% | 19.07%+4.1pp | 41.31%-18.2pp | 28.51%-5.4pp |
| Employer contribution / active EE | $257 | $1,625-84.2% | $2,498-89.7% | $2,270-88.7% |
| Participant deferral / active EE | $1,850 | $2,762-33.0% | $3,722-50.3% | $3,740-50.5% |
| Admin fee / account holder | $177 | $493-64.0% | $5,665-96.9% | $513-65.5% |