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.2+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $8,190 |
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).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $33,525 | $32,425+3.4% | $74,583-55.1% | $55,167-39.2% |
| Participation rate | 33.3% | 54.0%-20.7pp | 68.1%-34.8pp | 69.0%-35.7pp |
| Annual return | 6.84% | 10.63%-3.8pp | 20.47%-13.6pp | 169.23%-162.4pp |
| Employer contribution / active EE | $0 | $1,043-100.0% | $2,525-100.0% | $1,963-100.0% |
| Participant deferral / active EE | $1,185 | $1,995-40.6% | $3,458-65.7% | $3,054-61.2% |
| Admin fee / account holder | $111 | $748-85.2% | $4,138-97.3% | $504-78.0% |