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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.7 years Service code 15 · EIN 45-6062081 | Recordkeeping | $28,363 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $62,753 | $56,438+11.2% | $76,872-18.4% | $71,511-12.2% |
| Participation rate | 62.6% | 64.3%-1.7pp | 69.6%-7.0pp | 67.9%-5.4pp |
| Annual return | 20.95% | 19.05%+1.9pp | 37.90%-16.9pp | 28.86%-7.9pp |
| Employer contribution / active EE | $1,548 | $1,864-16.9% | $2,533-38.9% | $2,589-40.2% |
| Participant deferral / active EE | $2,539 | $3,136-19.1% | $3,832-33.8% | $4,291-40.8% |
| Admin fee / account holder | $225 | $1,430-84.3% | $5,476-95.9% | $1,588-85.8% |