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| Provider | Service type | Compensation |
|---|---|---|
HK FINANCIAL SERVICES2 years Filed as: HONKAMP KRUEGER FINANCIALSVCS INC Service code 15 · EIN 42-1447865 | Recordkeeping | $30,706 |
ALERUS FINANCIAL, N.A.2 years Service code 15 · EIN 45-6062081 | Recordkeeping | $18,683 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
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 | $52,366 | $36,767+42.4% | $81,473-35.7% | $62,293-15.9% |
| Participation rate | 100.0% | 54.4%+45.6pp | 68.0%+32.0pp | 69.5%+30.5pp |
| Annual return | 13.46% | 173.80%-160.3pp | 38.78%-25.3pp | 28.90%-15.4pp |
| Employer contribution / active EE | $1,505 | $1,128+33.4% | $2,568-41.4% | $2,042-26.3% |
| Participant deferral / active EE | $3,392 | $2,111+60.7% | $3,537-4.1% | $3,169+7.0% |
| Admin fee / account holder | $374 | $797-53.1% | $4,561-91.8% | $479-21.9% |