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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.6 years Service code 15 · EIN 45-6062081 | Recordkeeping | $26,630 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Annual investment return is in the bottom quintile of the peer cohort.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $47,607 | $50,199-5.2% | $69,884-31.9% | $66,938-28.9% |
| Participation rate | 65.2% | 66.3%-1.2pp | 70.5%-5.3pp | 69.8%-4.6pp |
| Annual return | -20.16% | -13.85%-6.3pp | 190.81%-211.0pp | 1.58%-21.7pp |
| Employer contribution / active EE | $1,406 | $1,864-24.6% | $2,560-45.1% | $2,545-44.8% |
| Participant deferral / active EE | $2,365 | $3,112-24.0% | $3,848-38.6% | $4,238-44.2% |
| Admin fee / account holder | $208 | $600-65.3% | $6,266-96.7% | $594-64.9% |