Filed May 5, 2020 (most recent of 3 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
MORGAN STANLEY SMITH BARNEY2 years Filed as: MORGAN STANLEY Service code 26 1300 THAMES STREET WHARF, 4TH FLOOR · BALTIMORE, MD 212319907 | Advisory (Participants) | $49,046 |
ALERUS FINANCIAL, N.A.6+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $38,653 |
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 | $151,287 | $73,638+105.4% | $95,960+57.7% | $73,493+105.9% |
| Participation rate | 94.2% | 76.2%+18.1pp | 77.1%+17.1pp | 70.7%+23.5pp |
| Annual return | 24.48% | 16.78%+7.7pp | 91.63%-67.2pp | 28.51%-4.0pp |
| Employer contribution / active EE | $623 | $1,863-66.6% | $2,541-75.5% | $2,270-72.5% |
| Participant deferral / active EE | $4,136 | $3,617+14.4% | $4,167-0.7% | $3,740+10.6% |
| Admin fee / account holder | $548 | $482+13.7% | $6,797-91.9% | $513+6.8% |