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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.3 years Service code 15 · EIN 45-6062081 | Recordkeeping | $17,952 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $42,878 | $50,666-15.4% | $76,667-44.1% | $65,186-34.2% |
| Participation rate | 58.8% | 68.8%-10.0pp | 72.1%-13.3pp | 70.2%-11.4pp |
| Annual return | 21.80% | 28.51%-6.7pp | 1166.74%-1144.9pp | 29.39%-7.6pp |
| Employer contribution / active EE | $1,214 | $1,575-22.9% | $2,303-47.3% | $2,177-44.2% |
| Participant deferral / active EE | $2,143 | $2,647-19.0% | $3,336-35.8% | $3,514-39.0% |
| Admin fee / account holder | $174 | $463-62.4% | $6,423-97.3% | $847-79.4% |