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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.1+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $14,249 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $38,668 | $45,324-14.7% | $122,354-68.4% | $69,631-44.5% |
| Participation rate | 24.7% | 59.9%-35.3pp | 71.6%-47.0pp | 70.7%-46.0pp |
| Annual return | 17.67% | 25.35%-7.7pp | 30.28%-12.6pp | 27571.02%-27553.4pp |
| Employer contribution / active EE | $0 | $1,230-100.0% | $4,051-100.0% | $2,032-100.0% |
| Participant deferral / active EE | $954 | $2,367-59.7% | $3,287-71.0% | $3,224-70.4% |
| Admin fee / account holder | $160 | $87+84.0% | $5,479-97.1% | $110+45.0% |