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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.4 years Service code 15 · EIN 45-6062081 | Recordkeeping | $17,197 |
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 | $53,214 | $54,590-2.5% | $81,726-34.9% | $73,497-27.6% |
| Participation rate | 52.9% | 68.3%-15.4pp | 72.0%-19.1pp | 70.7%-17.8pp |
| Annual return | 16.73% | 17.74%-1.0pp | 29.49%-12.8pp | 28.51%-11.8pp |
| Employer contribution / active EE | $1,250 | $1,636-23.6% | $4,311-71.0% | $2,270-44.9% |
| Participant deferral / active EE | $2,162 | $2,759-21.6% | $7,108-69.6% | $3,740-42.2% |
| Admin fee / account holder | $162 | $592-72.6% | $5,160-96.9% | $513-68.4% |