Filed February 14, 2022
See peer percentile detail. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
See the 10-year trajectory. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.10+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $65,903 |
HAWKINS ASH CPAS10+ years Service code 10 · EIN 39-0912608 | Accounting | $14,750 |
NICOLET NATIONAL BANK9 years Service code 26 · EIN 39-1990426 | Advisory (Participants) | $0 |
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.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $48,185 | $54,517-11.6% | $75,972-36.6% | $74,495-35.3% |
| Participation rate | 47.7% | 60.3%-12.6pp | 69.1%-21.4pp | 67.2%-19.5pp |
| Annual return | 21.65% | 31.82%-10.2pp | 359.55%-337.9pp | 1364.94%-1343.3pp |
| Employer contribution / active EE | $285 | $1,777-84.0% | $2,685-89.4% | $2,623-89.1% |
| Participant deferral / active EE | $2,242 | $3,066-26.9% | $4,255-47.3% | $4,346-48.4% |
| Admin fee / account holder | $400 | $2,229-82.1% | $6,467-93.8% | $1,942-79.4% |