Filed October 9, 2020
See peer percentile detail. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
See the 10-year trajectory. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.5+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $24,669 |
UNITED BENEFITS GROUP6+ years Service code 14 · EIN 01-0689331 | Plan Administrator | $21,436 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $80,250 | $58,101+38.1% | $118,925-32.5% | $73,409+9.3% |
| Participation rate | 68.8% | 56.1%+12.6pp | 75.4%-6.6pp | 72.2%-3.4pp |
| Annual return | 15.18% | 20.56%-5.4pp | 35.88%-20.7pp | 59.29%-44.1pp |
| Employer contribution / active EE | $954 | $1,445-34.0% | $3,263-70.7% | $2,234-57.3% |
| Participant deferral / active EE | $2,697 | $2,400+12.4% | $4,265-36.8% | $3,805-29.1% |
| Admin fee / account holder | $145 | $138+5.3% | $6,581-97.8% | $158-7.9% |