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.3+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $8,716 |
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 | $40,299 | $36,767+9.6% | $81,478-50.5% | $62,292-35.3% |
| Participation rate | 41.0% | 54.4%-13.5pp | 68.0%-27.0pp | 69.5%-28.6pp |
| Annual return | 25.75% | 173.80%-148.0pp | 38.78%-13.0pp | 28.90%-3.1pp |
| Employer contribution / active EE | $0 | $1,128-100.0% | $2,568-100.0% | $2,042-100.0% |
| Participant deferral / active EE | $1,614 | $2,111-23.5% | $3,537-54.4% | $3,169-49.1% |
| Admin fee / account holder | $105 | $797-86.8% | $4,561-97.7% | $479-78.1% |