Filed January 3, 2022
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| Provider | Service type | Compensation |
|---|---|---|
NICOLET NATIONAL BANK2 years Service code 26 · EIN 39-1990426 | Advisory (Participants) | $35,845 |
ALERUS FINANCIAL, N.A.1 year Service code 15 · EIN 45-6062081 | Recordkeeping | $7,953 |
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 | $78,778 | $54,690+44.0% | $76,030+3.6% | $74,478+5.8% |
| Participation rate | 68.8% | 60.3%+8.5pp | 69.1%-0.3pp | 67.2%+1.6pp |
| Annual return | 18.74% | 31.92%-13.2pp | 361.54%-342.8pp | 1370.56%-1351.8pp |
| Employer contribution / active EE | $724 | $1,781-59.3% | $2,688-73.1% | $2,626-72.4% |
| Participant deferral / active EE | $3,848 | $3,070+25.3% | $4,257-9.6% | $4,350-11.5% |
| Admin fee / account holder | $368 | $2,240-83.6% | $6,421-94.3% | $1,946-81.1% |