Filed February 14, 2020
See peer percentile detail. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
See the 10-year trajectory. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.2+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $4,247 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $57,702 | $68,408-15.6% | $57,179+0.9% | $57,658+0.1% |
| Participation rate | 52.0% | 79.1%-27.1pp | 75.3%-23.3pp | 70.2%-18.2pp |
| Annual return | 6.56% | 8.51%-1.9pp | 14.59%-8.0pp | 5.13%+1.4pp |
| Employer contribution / active EE | $984 | $2,869-65.7% | $2,682-63.3% | $1,974-50.1% |
| Participant deferral / active EE | $2,577 | $2,903-11.2% | $3,096-16.8% | $3,061-15.8% |
| Admin fee / account holder | $20 | $70-71.2% | $3,139-99.4% | $95-78.8% |