Filed January 9, 2023
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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.2+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $43,009 |
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
Assets per participant exceed $250,000 - top-decile high-value plan.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $400,060 | $65,820+507.8% | $108,745+267.9% | $57,658+593.8% |
| Participation rate | 81.5% | 72.7%+8.8pp | 77.7%+3.8pp | 70.2%+11.3pp |
| Annual return | 33.43% | 21.32%+12.1pp | 46.22%-12.8pp | 5.13%+28.3pp |
| Employer contribution / active EE | $11,607 | $2,285+407.9% | $3,323+249.3% | $1,974+488.1% |
| Participant deferral / active EE | $0 | $3,578-100.0% | $5,121-100.0% | $3,061-100.0% |
| Admin fee / account holder | $130 | $91+42.1% | $6,144-97.9% | $95+37.0% |