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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.1+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $14,492 |
FIEBIGER SWANSON WEST & CO PLLP1+ years Filed as: FIEBIGER, SWANSON, WEST & CO., PLLP Service code 10 · EIN 41-6134264 | Accounting | $10,200 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $17,892 | $35,183-49.1% | $73,550-75.7% | $70,126-74.5% |
| Participation rate | 98.3% | 42.9%+55.4pp | 54.9%+43.4pp | 69.5%+28.8pp |
| Annual return | 10.82% | 26.90%-16.1pp | -15.16%+26.0pp | 73.15%-62.3pp |
| Employer contribution / active EE | $1,419 | $709+100.2% | $1,219+16.4% | $2,343-39.4% |
| Participant deferral / active EE | $1,391 | $1,220+14.0% | $1,804-22.9% | $3,332-58.2% |
| Admin fee / account holder | $305 | $2,302-86.8% | $2,320-86.9% | $4,645-93.4% |