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| Provider | Service type | Compensation |
|---|---|---|
SECURIAN FINANCIAL SERVICES INC3+ years Filed as: SECURIAN FINANCIAL SERVICES Service code 26 · EIN 41-1486060 | Advisory (Participants) | $17,080 |
ALERUS FINANCIAL, N.A.3+ years Filed as: ALERUS FIANCIAL, N.A. Service code 15 · EIN 45-6062081 | Recordkeeping | $8,579 |
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $28,129 | $81,537-65.5% | $149,721-81.2% | $69,631-59.6% |
| Participation rate | 65.6% | 86.1%-20.5pp | 87.1%-21.5pp | 70.7%-5.1pp |
| Annual return | 20.39% | 22.79%-2.4pp | 1501.67%-1481.3pp | 27571.02%-27550.6pp |
| Employer contribution / active EE | $180 | $3,239-94.4% | $5,444-96.7% | $2,032-91.1% |
| Participant deferral / active EE | $3,272 | $4,994-34.5% | $6,568-50.2% | $3,224+1.5% |
| Admin fee / account holder | $54 | $107-49.6% | $11,282-99.5% | $110-51.2% |