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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.1 year Filed as: ALERUS RETIREMENT SOLUTIONS Service code 15 · EIN 45-0375407 | Recordkeeping | $39,041 |
NOVAK BIRKS, P.C.4+ years Filed as: NOVAK BIRKS P.C. Service code 10 · EIN 43-1122456 | Accounting | $32,708 |
FINANCIAL ENGINES2 years Filed as: FINANCIAL ENGINES, INC. Service code 27 · EIN 94-3250323 | Advisory (Plan) | $23,274 |
Service code 29 · EIN 43-1706479 | Legal | $7,898 |
MERTZ INSURANCE2 years Filed as: MERTZ INSURANCE GROUP Service code 23 323 CASTLE PINE CIRCLE · PAPILLION, NE 68133 | Insurance services | $5,558 |
CHARLES SCHWAB & CO., INC.4+ years Filed as: CHARLES SCHWAB BANK Service code 28 · EIN 42-1558009 | Investment Management | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
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.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $90,599 | $56,443+60.5% | $83,831+8.1% | $55,725+62.6% |
| Participation rate | 30.9% | 72.0%-41.1pp | 76.1%-45.2pp | 70.9%-40.0pp |
| Annual return | -7.52% | 393.67%-401.2pp | 850.99%-858.5pp | 244.93%-252.4pp |
| Employer contribution / active EE | $3,406 | $2,682+27.0% | $3,631-6.2% | $2,078+63.9% |
| Participant deferral / active EE | $4 | $2,965-99.9% | $4,082-99.9% | $3,356-99.9% |
| Admin fee / account holder | $550 | $156+251.9% | $5,479-90.0% | $115+377.3% |