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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.8+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $64,534 |
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 | $78,732 | $76,112+3.4% | $96,544-18.4% | $71,529+10.1% |
| Participation rate | 91.5% | 74.4%+17.1pp | 76.0%+15.5pp | 67.9%+23.6pp |
| Annual return | 6.84% | 22.80%-16.0pp | 25.88%-19.0pp | 28.97%-22.1pp |
| Employer contribution / active EE | $2,103 | $2,248-6.4% | $2,966-29.1% | $2,590-18.8% |
| Participant deferral / active EE | $5,057 | $4,217+19.9% | $4,851+4.2% | $4,291+17.8% |
| Admin fee / account holder | $361 | $2,708-86.7% | $8,254-95.6% | $1,588-77.3% |