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| Provider | Service type | Compensation |
|---|---|---|
Service code 37 · EIN 04-2647786 | Loan Processing | $12,794 |
ALERUS FINANCIAL, N.A.5 years Filed as: ALERUS FINANCIAL Service code 27 · EIN 45-0140105 | Advisory (Plan) | $6,250 |
Annual investment return is in the bottom quintile of the peer cohort.
Form 5500 reported that benefits due were not provided when due.
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $87,934 | $72,303+21.6% | $86,698+1.4% | $64,824+35.6% |
| Participation rate | 97.3% | 80.4%+16.8pp | 76.6%+20.7pp | 71.5%+25.8pp |
| Annual return | -18.21% | 392.77%-411.0pp | 35.96%-54.2pp | 32.84%-51.1pp |
| Employer contribution / active EE | $1,967 | $2,393-17.8% | $2,837-30.7% | $2,507-21.6% |
| Participant deferral / active EE | $6,688 | $4,660+43.5% | $4,656+43.6% | $4,311+55.1% |
| Admin fee / account holder | $46 | $174-73.7% | $7,492-99.4% | $188-75.6% |