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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.5+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $105,258 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $164,670 | $88,122+86.9% | $141,191+16.6% | $67,579+143.7% |
| Participation rate | 99.6% | 76.5%+23.2pp | 82.5%+17.1pp | 71.3%+28.3pp |
| Annual return | 23.49% | 75.40%-51.9pp | 71.41%-47.9pp | 378.56%-355.1pp |
| Employer contribution / active EE | $7,924 | $3,224+145.8% | $4,736+67.3% | $2,148+268.9% |
| Participant deferral / active EE | $7,840 | $5,958+31.6% | $6,710+16.8% | $3,539+121.5% |
| Admin fee / account holder | $329 | $131+151.3% | $10,264-96.8% | $142+131.2% |