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.11+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $41,454 |
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 | $37,930 | $95,880-60.4% | $107,525-64.7% | $85,563-55.7% |
| Participation rate | 68.8% | 70.1%-1.4pp | 75.1%-6.3pp | 66.0%+2.8pp |
| Annual return | 16.38% | 68.06%-51.7pp | 181.32%-164.9pp | 31.51%-15.1pp |
| Employer contribution / active EE | $952 | $3,812-75.0% | $3,754-74.6% | $2,654-64.1% |
| Participant deferral / active EE | $2,189 | $4,201-47.9% | $5,116-57.2% | $4,375-50.0% |
| Admin fee / account holder | $145 | $1,025-85.9% | $8,919-98.4% | $834-82.6% |