Filed May 8, 2024 (most recent of 2 filings on file)
Total covered: 4 employees
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| Provider | Service type | Compensation |
|---|---|---|
BREMER BANK NATIONAL ASSOCIATION1+ years Filed as: BREMER TRUST, N.A. Service code 25 · EIN 41-1565461 P.O. BOX 986 · ST. CLOUD, MN 563020986 | Directed Trustee | $15,502 |
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).
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 | $35,390 | $57,108-38.0% | $94,228-62.4% | $52,331-32.4% |
| Participation rate | 66.1% | 72.9%-6.8pp | 78.8%-12.7pp | 68.1%-2.0pp |
| Annual return | -1.00% | 1.47%-2.5pp | 10.68%-11.7pp | 4.54%-5.5pp |
| Employer contribution / active EE | $610 | $1,735-64.9% | $3,587-83.0% | $1,882-67.6% |
| Participant deferral / active EE | $1,841 | $3,040-39.4% | $4,320-57.4% | $3,022-39.1% |
| Admin fee / account holder | $174 | $546-68.1% | $6,269-97.2% | $592-70.5% |