Filed January 9, 2023
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.5+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $51,244 |
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $28,422 | $75,419-62.3% | $392,568-92.8% | $67,579-57.9% |
| Participation rate | 79.1% | 74.8%+4.2pp | 78.1%+1.0pp | 71.3%+7.8pp |
| Annual return | 34.57% | 36.70%-2.1pp | 24.42%+10.1pp | 378.56%-344.0pp |
| Employer contribution / active EE | $2,150 | $2,636-18.4% | $3,783-43.2% | $2,148+0.1% |
| Participant deferral / active EE | $3,882 | $4,347-10.7% | $5,985-35.1% | $3,539+9.7% |
| Admin fee / account holder | $108 | $114-5.2% | $6,260-98.3% | $142-24.2% |