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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.1 year Filed as: ALERUS FINANCIAL, N,A. Service code 15 · EIN 45-0140105 | Recordkeeping | $30,462 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $60,398 | $65,125-7.3% | $143,797-58.0% | $66,949-9.8% |
| Participation rate | 36.3% | 65.2%-28.9pp | 80.3%-44.0pp | 69.8%-33.5pp |
| Annual return | -14.20% | -11.13%-3.1pp | -0.04%-14.2pp | 1.57%-15.8pp |
| Employer contribution / active EE | $516 | $2,362-78.2% | $4,952-89.6% | $2,545-79.7% |
| Participant deferral / active EE | $1,036 | $2,920-64.5% | $5,638-81.6% | $4,239-75.6% |
| Admin fee / account holder | $412 | $503-18.1% | $14,679-97.2% | $594-30.6% |