Filed October 9, 2020
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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.6+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $46,611 |
UNITED BENEFITS GROUP7+ years Service code 14 · EIN 01-0689331 | Plan Administrator | $5,596 |
Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Recordkeeping Fees | $204 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $80,776 | $62,581+29.1% | $124,672-35.2% | $86,799-6.9% |
| Participation rate | 51.0% | 56.9%-5.8pp | 74.6%-23.6pp | 72.3%-21.2pp |
| Annual return | 13.90% | 26.67%-12.8pp | 5142.93%-5129.0pp | 97.91%-84.0pp |
| Employer contribution / active EE | $597 | $1,604-62.8% | $3,324-82.0% | $2,405-75.2% |
| Participant deferral / active EE | $1,775 | $2,725-34.9% | $4,614-61.5% | $4,131-57.0% |
| Admin fee / account holder | $152 | $170-10.3% | $7,493-98.0% | $170-10.3% |