Filed July 1, 2026
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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 | $50,820-4.7% | $155,567-68.9% | $77,671-37.7% |
| Participation rate | 34.4% | 63.1%-28.8pp | 78.2%-43.8pp | 70.6%-36.2pp |
| Annual return | 17.20% | 34.85%-17.6pp | 64.74%-47.5pp | 31.21%-14.0pp |
| Employer contribution / active EE | $357 | $1,993-82.1% | $4,674-92.4% | $2,726-86.9% |
| Participant deferral / active EE | $2,238 | $2,823-20.7% | $5,628-60.2% | $4,648-51.9% |
| Admin fee / account holder | $280 | $436-35.8% | $15,916-98.2% | $430-35.0% |