Filed February 14, 2020
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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.10+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $56,090 |
CLIFTONLARSONALLEN LLP5 years Filed as: CLIFTONLARSONALLEN, LLP Service code 10 · EIN 41-0746749 | Accounting | $14,805 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $77,618 | $91,621-15.3% | $67,511+15.0% | $77,671-0.1% |
| Participation rate | 61.9% | 76.0%-14.0pp | 72.9%-11.0pp | 70.6%-8.6pp |
| Annual return | 16.89% | 14.87%+2.0pp | 3517.41%-3500.5pp | 31.21%-14.3pp |
| Employer contribution / active EE | $1,351 | $3,184-57.6% | $2,733-50.6% | $2,726-50.5% |
| Participant deferral / active EE | $3,882 | $3,906-0.6% | $4,000-3.0% | $4,648-16.5% |
| Admin fee / account holder | $253 | $176+43.3% | $3,999-93.7% | $430-41.3% |