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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.2+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $50,532 |
Employer 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.)
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 | $77,089 | $60,165+28.1% | $74,184+3.9% | $55,167+39.7% |
| Participation rate | 97.9% | 74.2%+23.7pp | 76.6%+21.2pp | 69.0%+28.9pp |
| Annual return | 8.74% | 10.00%-1.3pp | 17.74%-9.0pp | 169.23%-160.5pp |
| Employer contribution / active EE | $265 | $1,600-83.4% | $2,370-88.8% | $1,963-86.5% |
| Participant deferral / active EE | $1,881 | $2,973-36.7% | $3,550-47.0% | $3,054-38.4% |
| Admin fee / account holder | $328 | $419-21.7% | $5,586-94.1% | $504-34.9% |