Sign up free to preview peer percentile detail
Free accounts unlock saves, downloads, and 3-year history.
Sign up free to preview 10-year trajectory
Free accounts unlock saves, downloads, and 3-year history.
| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.5+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $22,641 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $66,132 | $70,917-6.7% | $98,916-33.1% | $73,493-10.0% |
| Participation rate | 23.5% | 73.8%-50.3pp | 76.0%-52.5pp | 70.7%-47.2pp |
| Annual return | 59.35% | 34.18%+25.2pp | 196.45%-137.1pp | 28.51%+30.8pp |
| Employer contribution / active EE | $0 | $2,037-100.0% | $2,689-100.0% | $2,270-100.0% |
| Participant deferral / active EE | $919 | $3,501-73.7% | $4,245-78.3% | $3,740-75.4% |
| Admin fee / account holder | $686 | $535+28.3% | $6,642-89.7% | $513+33.7% |