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.10+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $34,806 |
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 | $42,297 | $80,724-47.6% | $103,333-59.1% | $74,495-43.2% |
| Participation rate | 65.2% | 65.7%-0.5pp | 74.5%-9.3pp | 67.2%-2.0pp |
| Annual return | 14.28% | 27.56%-13.3pp | 24.88%-10.6pp | 1364.94%-1350.7pp |
| Employer contribution / active EE | $890 | $3,157-71.8% | $3,868-77.0% | $2,623-66.1% |
| Participant deferral / active EE | $2,308 | $3,860-40.2% | $5,057-54.4% | $4,346-46.9% |
| Admin fee / account holder | $163 | $2,368-93.1% | $8,355-98.0% | $1,942-91.6% |