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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.1+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $2,470 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $33,966 | $46,360-26.7% | $147,617-77.0% | $52,331-35.1% |
| Participation rate | 35.9% | 64.9%-29.0pp | 84.6%-48.7pp | 68.1%-32.2pp |
| Annual return | -1.41% | 1.62%-3.0pp | 61.98%-63.4pp | 4.54%-6.0pp |
| Employer contribution / active EE | $330 | $2,126-84.5% | $5,564-94.1% | $1,882-82.5% |
| Participant deferral / active EE | $909 | $2,258-59.8% | $4,895-81.4% | $3,022-69.9% |
| Admin fee / account holder | $43 | $766-94.3% | $11,612-99.6% | $592-92.7% |