Filed November 17, 2008
This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.
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.1 year Service code 15 · EIN 45-6062081 | Recordkeeping | $12,612 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $19,076 | $107,440-82.2% | $105,738-82.0% | $55,725-65.8% |
| Participation rate | 45.1% | 55.5%-10.4pp | 76.3%-31.3pp | 70.9%-25.8pp |
| Annual return | -0.59% | -0.59%0pp | 6.27%-6.9pp | 244.93%-245.5pp |
| Employer contribution / active EE | $0 | $1,448-100.0% | $3,268-100.0% | $2,078-100.0% |
| Participant deferral / active EE | $1,252 | $2,171-42.3% | $4,080-69.3% | $3,356-62.7% |
| Admin fee / account holder | $60 | $283-78.9% | $6,913-99.1% | $115-48.1% |