Filed January 28, 2021
See peer percentile detail. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
See the 10-year trajectory. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.4 years Filed as: ALERUS FINANCIAL NA Service code 15 · EIN 45-6062081 | Recordkeeping | $49,083 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $55,344 | $65,246-15.2% | $98,716-43.9% | $67,986-18.6% |
| Participation rate | 98.5% | 51.4%+47.0pp | 69.3%+29.2pp | 57.2%+41.3pp |
| Annual return | 9.56% | 20.58%-11.0pp | 31.81%-22.3pp | 31.67%-22.1pp |
| Employer contribution / active EE | $3,013 | $1,042+189.2% | $2,279+32.3% | $2,019+49.3% |
| Participant deferral / active EE | $4,981 | $2,594+92.0% | $4,048+23.1% | $3,358+48.3% |
| Admin fee / account holder | $307 | $4,561-93.3% | $8,703-96.5% | $3,203-90.4% |