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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.2 years Filed as: ALERUS RETIREMENT SOLUTIONS Service code 15 · EIN 45-0375407 | Recordkeeping | $36,466 |
FINANCIAL ENGINES3 years Filed as: FINANCIAL ENGINES, INC. Service code 27 · EIN 94-3250323 | Advisory (Plan) | $34,256 |
NOVAK BIRKS, P.C.5+ years Filed as: NOVAK BIRKS P.C. Service code 10 · EIN 43-1122456 | Accounting | $25,616 |
Service code 29 · EIN 43-1706479 | Legal | $6,366 |
MERTZ INSURANCE3 years Filed as: MERTZ INSURANCE GROUP Service code 23 323 CASTLE PINE CIRCLE · PAPILLION, NE 68133 | Insurance services | $5,739 |
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.)
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $94,614 | $66,650+42.0% | $92,915+1.8% | $67,582+40.0% |
| Participation rate | 35.8% | 72.5%-36.7pp | 76.0%-40.2pp | 71.3%-35.4pp |
| Annual return | 17.57% | 92.64%-75.1pp | 109.45%-91.9pp | 378.57%-361.0pp |
| Employer contribution / active EE | $3,852 | $2,777+38.7% | $3,653+5.4% | $2,148+79.3% |
| Participant deferral / active EE | $3 | $3,160-99.9% | $4,238-99.9% | $3,539-99.9% |
| Admin fee / account holder | $464 | $199+133.1% | $5,796-92.0% | $142+226.0% |