See peer percentile detail with Solo.
Solo shows the percentile for each metric against plans of the same size and industry. $4.99 for your first month, then $34.99 a month. Cancel any time.
| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.1+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $335 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $6,758 | $30,147-77.6% | $58,482-88.4% | $80,160-91.6% |
| Participation rate | 5.7% | 34.4%-28.7pp | 50.9%-45.2pp | 72.9%-67.2pp |
| Annual return | 0.00% | 21.97%-22.0pp | 4239.32%-4239.3pp | 40.38%-40.4pp |
| Employer contribution / active EE | $49 | $528-90.7% | $1,053-95.3% | $2,978-98.3% |
| Participant deferral / active EE | $340 | $1,249-72.8% | $1,924-82.3% | $5,017-93.2% |
| Admin fee / account holder | $2 | $195-98.7% | $2,516-99.9% | $145-98.3% |