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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.6+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $61,950 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $102,858 | $84,936+21.1% | $111,308-7.6% | $79,391+29.6% |
| Participation rate | 80.1% | 75.9%+4.3pp | 77.3%+2.8pp | 70.7%+9.4pp |
| Annual return | 31.47% | 17.45%+14.0pp | 54.67%-23.2pp | 116.88%-85.4pp |
| Employer contribution / active EE | $1,749 | $1,979-11.6% | $2,732-36.0% | $2,428-28.0% |
| Participant deferral / active EE | $4,292 | $3,888+10.4% | $4,487-4.4% | $4,046+6.1% |
| Admin fee / account holder | $413 | $537-23.1% | $7,965-94.8% | $627-34.1% |