Filed November 3, 2013
This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.
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.5+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $38,712 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Assets per participant exceed $250,000 - top-decile high-value plan.
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $269,362 | $81,947+228.7% | $105,387+155.6% | $72,985+269.1% |
| Participation rate | 3.0% | 76.5%-73.5pp | 82.6%-79.5pp | 69.5%-66.5pp |
| Annual return | 18.00% | 42.90%-24.9pp | 26.82%-8.8pp | 81.00%-63.0pp |
| Employer contribution / active EE | $9,695 | $3,468+179.5% | $4,213+130.1% | $2,440+297.4% |
| Participant deferral / active EE | $15,308 | $4,494+240.6% | $5,502+178.2% | $3,607+324.3% |
| Admin fee / account holder | $307 | $6,258-95.1% | $6,559-95.3% | $5,124-94.0% |