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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.8+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $28,162 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $22,133 | $58,859-62.4% | $129,397-82.9% | $77,714-71.5% |
| Participation rate | 19.1% | 59.3%-40.2pp | 69.6%-50.5pp | 70.6%-51.5pp |
| Annual return | 18.80% | 24.74%-5.9pp | 9453.98%-9435.2pp | 31.26%-12.5pp |
| Employer contribution / active EE | $0 | $1,952-100.0% | $4,154-100.0% | $2,727-100.0% |
| Participant deferral / active EE | $737 | $3,215-77.1% | $4,167-82.3% | $4,649-84.2% |
| Admin fee / account holder | $125 | $591-78.9% | $7,679-98.4% | $433-71.2% |