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.6+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $73,082 |
Service code 13 · EIN 42-0127290 | Contract Administrator | $3,185 |
Service code 27 · EIN 95-2755361 | Advisory (Plan) | $0 |
Employer contribution per participant is in the bottom quintile of the peer cohort.
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 | $43,610 | $111,608-60.9% | $177,821-75.5% | $73,409-40.6% |
| Participation rate | 97.4% | 87.9%+9.6pp | 87.7%+9.7pp | 72.2%+25.2pp |
| Annual return | 58.49% | 18.23%+40.3pp | 48.32%+10.2pp | 59.29%-0.8pp |
| Employer contribution / active EE | $1,293 | $3,796-65.9% | $5,918-78.1% | $2,234-42.1% |
| Participant deferral / active EE | $4,221 | $6,199-31.9% | $7,714-45.3% | $3,805+10.9% |
| Admin fee / account holder | $163 | $166-1.6% | $12,427-98.7% | $158+3.2% |