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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.1 year Service code 15 · EIN 45-6062081 | Recordkeeping | $8,716 |
CHARLES SCHWAB & CO., INC.2+ years Filed as: CHARLES SCHWAB TRUST COMPANY Service code 19 · EIN 42-1558009 | Securities Custodian | $1,644 |
CHARLES SCHWAB & CO., INC.2+ years Service code 19 · EIN 94-1737782 | Securities Custodian | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
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 | $33,355 | $77,638-57.0% | $156,551-78.7% | $62,881-47.0% |
| Participation rate | 32.0% | 71.2%-39.2pp | 84.0%-52.1pp | 69.3%-37.3pp |
| Annual return | 8.26% | 50.33%-42.1pp | 32.23%-24.0pp | 20.14%-11.9pp |
| Employer contribution / active EE | $56 | $3,444-98.4% | $5,501-99.0% | $2,281-97.6% |
| Participant deferral / active EE | $1,169 | $3,046-61.6% | $4,871-76.0% | $3,203-63.5% |
| Admin fee / account holder | $231 | $5,561-95.9% | $13,028-98.2% | $4,296-94.6% |