Filed September 30, 2019
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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.1+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $19,940 |
Participant contribution per participant is in the bottom quintile of the peer cohort.
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 | $39,237 | $63,905-38.6% | $74,183-47.1% | $57,658-31.9% |
| Participation rate | 88.9% | 79.8%+9.2pp | 76.6%+12.3pp | 70.2%+18.7pp |
| Annual return | 9.67% | 60.60%-50.9pp | 17.74%-8.1pp | 5.13%+4.5pp |
| Employer contribution / active EE | $828 | $1,840-55.0% | $2,370-65.1% | $1,974-58.1% |
| Participant deferral / active EE | $1,606 | $3,448-53.4% | $3,550-54.8% | $3,061-47.5% |
| Admin fee / account holder | $76 | $91-17.1% | $5,586-98.6% | $95-20.1% |