Filed January 24, 2023
See peer percentile detail with Solo.
Solo shows the percentile for each metric against plans of the same size and industry. $4.99 for your first month, then $34.99 a month. Cancel any time.
See the 10-year trajectory with Solo.
Solo shows up to ten years of filings for this plan, year over year. $4.99 for your first month, then $34.99 a month. Cancel any time.
| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.9+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $26,245 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $29,635 | $76,670-61.3% | $96,683-69.3% | $71,457-58.5% |
| Participation rate | 66.7% | 66.6%+0.1pp | 74.3%-7.7pp | 67.9%-1.3pp |
| Annual return | 14.29% | 48.29%-34.0pp | 35.69%-21.4pp | 28.85%-14.6pp |
| Employer contribution / active EE | $998 | $3,031-67.1% | $3,737-73.3% | $2,588-61.4% |
| Participant deferral / active EE | $2,475 | $3,771-34.4% | $4,878-49.3% | $4,289-42.3% |
| Admin fee / account holder | $102 | $2,028-95.0% | $6,730-98.5% | $1,587-93.6% |