Filed January 9, 2023
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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.1+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $41,871 |
LINDQUIST LLP1+ years Filed as: LINDQUIST & VENNUM LLP Service code 16 PO BOX 86 · MINNEAPOLIS, MN 55486 | Consulting | $11,112 |
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $246,587 | $57,435+329.3% | $105,218+134.4% | $55,191+346.8% |
| Participation rate | 100.0% | 71.3%+28.7pp | 77.2%+22.8pp | 69.2%+30.8pp |
| Annual return | 20.05% | 2.97%+17.1pp | 5.33%+14.7pp | 10.78%+9.3pp |
| Employer contribution / active EE | $7,396 | $1,920+285.3% | $3,255+127.2% | $1,899+289.5% |
| Participant deferral / active EE | $0 | $3,495-100.0% | $4,867-100.0% | $3,046-100.0% |
| Admin fee / account holder | $143 | $70+103.6% | $6,992-98.0% | $91+57.8% |