Filed December 19, 2013
This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.
See peer percentile detail. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
See the 10-year trajectory. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.1+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $9,215 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $32,244 | $31,109+3.7% | $67,711-52.4% | $52,331-38.4% |
| Participation rate | 36.1% | 54.0%-17.9pp | 67.5%-31.5pp | 68.1%-32.1pp |
| Annual return | -0.66% | 23.70%-24.4pp | 25.41%-26.1pp | 4.54%-5.2pp |
| Employer contribution / active EE | $0 | $1,076-100.0% | $2,559-100.0% | $1,882-100.0% |
| Participant deferral / active EE | $1,317 | $1,970-33.1% | $3,585-63.3% | $3,022-56.4% |
| Admin fee / account holder | $123 | $466-73.6% | $4,255-97.1% | $592-79.2% |