Filed April 21, 2022
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.6+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $68,775 |
RBC WEALTH MANAGEMENT6+ years Service code 99 · EIN 41-1416339 | Other Fees | $7,098 |
RBC WEALTH MANAGEMENT1 year Filed as: RBC CAPITAL MARKETS LLC Service code 99 · EIN 41-1416330 | Other Fees | $6,875 |
MORNINGSTAR1 year Service code 27 | Advisory (Plan) | $2,539 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $236,092 | $69,362+240.4% | $101,248+133.2% | $73,488+221.3% |
| Participation rate | 97.1% | 68.4%+28.8pp | 75.8%+21.3pp | 70.7%+26.5pp |
| Annual return | 17.81% | 18.46%-0.7pp | 46.47%-28.7pp | 28.51%-10.7pp |
| Employer contribution / active EE | $3,525 | $2,628+34.1% | $3,660-3.7% | $2,270+55.3% |
| Participant deferral / active EE | $8,732 | $3,300+164.6% | $4,370+99.8% | $3,740+133.5% |
| Admin fee / account holder | $624 | $704-11.3% | $5,945-89.5% | $513+21.6% |