Filed February 14, 2020
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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.1+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $21,366 |
INTERACTIVE RETIREMENT SYSTEMS1+ years Service code 15 · EIN 41-1632187 | Recordkeeping | $1,031 |
CHARLES SCHWAB & CO., INC.1+ years Filed as: CHARLES SCHWAB & CO. INC. Service code 19 | Securities Custodian | $0 |
CHARLES SCHWAB & CO., INC.1+ years Filed as: CHARLES SCHWAB BANK Service code 19 · EIN 42-1558009 | Securities Custodian | $0 |
LPL FINANCIAL1+ years Filed as: LPL FINANCIAL LLC Service code 27 125 SOUTH MILL STREET · FERGUS FALLS, MN 56537 | Advisory (Plan) | $0 |
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 | $64,227 | $67,166-4.4% | $57,349+12.0% | $55,191+16.4% |
| Participation rate | 56.2% | 77.7%-21.6pp | 75.1%-18.9pp | 69.2%-13.0pp |
| Annual return | 1.70% | 4.22%-2.5pp | 24.40%-22.7pp | 10.78%-9.1pp |
| Employer contribution / active EE | $922 | $2,812-67.2% | $2,689-65.7% | $1,899-51.4% |
| Participant deferral / active EE | $2,677 | $2,835-5.6% | $3,162-15.3% | $3,046-12.1% |
| Admin fee / account holder | $55 | $44+26.6% | $3,356-98.4% | $91-39.3% |