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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.3+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $22,184 |
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 | $23,650 | $47,648-50.4% | $130,660-81.9% | $67,582-65.0% |
| Participation rate | 29.8% | 60.4%-30.6pp | 71.7%-41.9pp | 71.3%-41.5pp |
| Annual return | 22.24% | 25.73%-3.5pp | 1709.29%-1687.1pp | 378.57%-356.3pp |
| Employer contribution / active EE | $0 | $1,408-100.0% | $4,092-100.0% | $2,148-100.0% |
| Participant deferral / active EE | $1,058 | $2,616-59.6% | $3,603-70.6% | $3,539-70.1% |
| Admin fee / account holder | $118 | $105+12.3% | $5,463-97.8% | $142-17.1% |