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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.5+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $29,302 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $32,155 | $62,723-48.7% | $142,898-77.5% | $86,821-63.0% |
| Participation rate | 26.5% | 62.6%-36.1pp | 72.0%-45.5pp | 72.3%-45.8pp |
| Annual return | 24.31% | 17.62%+6.7pp | 5639.64%-5615.3pp | 97.94%-73.6pp |
| Employer contribution / active EE | $0 | $1,627-100.0% | $4,146-100.0% | $2,406-100.0% |
| Participant deferral / active EE | $985 | $3,039-67.6% | $3,838-74.3% | $4,132-76.2% |
| Admin fee / account holder | $149 | $140+6.6% | $6,560-97.7% | $170-12.3% |