Filed May 5, 2020 (most recent of 3 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.8+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $56,765 |
MORGAN STANLEY SMITH BARNEY4 years Filed as: MORGAN STANLEY Service code 26 1300 THAMES STREET WHARF, 4TH FLOOR · BALTIMORE, MD 212319907 | Advisory (Participants) | $49,831 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $87,098 | $65,453+33.1% | $86,691+0.5% | $66,930+30.1% |
| Participation rate | 94.3% | 75.5%+18.8pp | 76.6%+17.7pp | 69.8%+24.5pp |
| Annual return | -19.01% | -10.89%-8.1pp | 35.94%-55.0pp | 1.57%-20.6pp |
| Employer contribution / active EE | $3,729 | $2,154+73.1% | $2,837+31.4% | $2,545+46.5% |
| Participant deferral / active EE | $4,553 | $4,102+11.0% | $4,656-2.2% | $4,238+7.4% |
| Admin fee / account holder | $523 | $642-18.6% | $7,492-93.0% | $593-11.9% |