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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.1 year Service code 15 · EIN 45-6062081 | Recordkeeping | $4,452 |
Annual investment return is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $13,254 | $60,165-78.0% | $74,185-82.1% | $55,167-76.0% |
| Participation rate | 74.4% | 74.2%+0.2pp | 76.6%-2.3pp | 69.0%+5.4pp |
| Annual return | 1.40% | 10.00%-8.6pp | 17.74%-16.3pp | 169.23%-167.8pp |
| Employer contribution / active EE | $1,564 | $1,600-2.2% | $2,370-34.0% | $1,963-20.3% |
| Participant deferral / active EE | $2,636 | $2,973-11.3% | $3,550-25.8% | $3,054-13.7% |
| Admin fee / account holder | $35 | $419-91.6% | $5,586-99.4% | $504-93.0% |