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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.6+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $109,597 |
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 | $191,657 | $100,801+90.1% | $149,730+28.0% | $73,412+161.1% |
| Participation rate | 99.6% | 77.7%+21.9pp | 82.5%+17.1pp | 72.2%+27.4pp |
| Annual return | 16.53% | 265.34%-248.8pp | 276.70%-260.2pp | 59.30%-42.8pp |
| Employer contribution / active EE | $7,724 | $3,312+133.3% | $4,645+66.3% | $2,234+245.8% |
| Participant deferral / active EE | $7,727 | $6,404+20.7% | $6,843+12.9% | $3,806+103.0% |
| Admin fee / account holder | $329 | $181+82.0% | $9,310-96.5% | $158+108.4% |