Filed October 21, 2021 (most recent of 3 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.2+ years Filed as: ALERUS FINANCIAL N.A. Service code 15 · EIN 45-6062081 | Recordkeeping | $22,544 |
Participant contribution per participant is in the bottom quintile of the peer cohort.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $28,080 | $56,640-50.4% | $80,977-65.3% | $57,658-51.3% |
| Participation rate | 70.4% | 75.9%-5.4pp | 75.8%-5.4pp | 70.2%+0.2pp |
| Annual return | 46.67% | 19.97%+26.7pp | 17.11%+29.6pp | 5.13%+41.5pp |
| Employer contribution / active EE | $1,022 | $2,085-51.0% | $3,715-72.5% | $1,974-48.2% |
| Participant deferral / active EE | $1,663 | $4,944-66.4% | $5,696-70.8% | $3,061-45.7% |
| Admin fee / account holder | $80 | $87-7.9% | $5,517-98.5% | $95-15.1% |