Filed May 5, 2020 (most recent of 3 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.10+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $51,635 |
MORGAN STANLEY SMITH BARNEY6 years Filed as: MORGAN STANLEY Service code 26 1300 THAMES STREET WHARF, 4TH FLOOR · BALTIMORE, MD 212319907 | Advisory (Participants) | $42,962 |
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 signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $92,136 | $79,184+16.4% | $102,438-10.1% | $74,546+23.6% |
| Participation rate | 94.6% | 74.8%+19.8pp | 76.5%+18.1pp | 67.2%+27.4pp |
| Annual return | 15.01% | 54.95%-39.9pp | 29.37%-14.4pp | 1366.03%-1351.0pp |
| Employer contribution / active EE | $1,722 | $2,362-27.1% | $3,024-43.0% | $2,624-34.4% |
| Participant deferral / active EE | $4,590 | $4,414+4.0% | $5,054-9.2% | $4,347+5.6% |
| Admin fee / account holder | $534 | $2,001-73.3% | $9,448-94.3% | $1,944-72.5% |