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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.4 years Service code 15 · EIN 45-6062081 | Recordkeeping | $61,339 |
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 | $67,919 | $63,114+7.6% | $92,915-26.9% | $65,186+4.2% |
| Participation rate | 100.0% | 68.8%+31.2pp | 76.0%+24.0pp | 70.2%+29.8pp |
| Annual return | 22.15% | 28.75%-6.6pp | 109.45%-87.3pp | 29.39%-7.2pp |
| Employer contribution / active EE | $6,517 | $2,571+153.5% | $3,653+78.4% | $2,177+199.4% |
| Participant deferral / active EE | $2,588 | $3,108-16.7% | $4,238-38.9% | $3,514-26.4% |
| Admin fee / account holder | $311 | $624-50.0% | $5,796-94.6% | $847-63.2% |