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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.10+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $54,206 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $48,407 | $50,860-4.8% | $155,574-68.9% | $77,714-37.7% |
| Participation rate | 34.4% | 63.1%-28.8pp | 78.2%-43.9pp | 70.6%-36.2pp |
| Annual return | 17.20% | 34.86%-17.7pp | 64.87%-47.7pp | 31.26%-14.1pp |
| Employer contribution / active EE | $357 | $1,991-82.1% | $4,676-92.4% | $2,727-86.9% |
| Participant deferral / active EE | $2,238 | $2,825-20.8% | $5,629-60.2% | $4,649-51.9% |
| Admin fee / account holder | $280 | $436-35.9% | $15,914-98.2% | $433-35.4% |