Filed May 7, 2019 (most recent of 3 filings on file)
Total covered: 4 employees
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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.2 years Service code 15 · EIN 45-6062081 | Recordkeeping | $100 |
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $126,835 | $58,851+115.5% | $115,157+10.1% | $72,985+73.8% |
| Participation rate | 93.4% | 65.5%+27.9pp | 75.9%+17.5pp | 69.5%+23.9pp |
| Annual return | 16.00% | 23.16%-7.2pp | 35.60%-19.6pp | 81.00%-65.0pp |
| Employer contribution / active EE | $3,154 | $1,798+75.4% | $3,179-0.8% | $2,440+29.3% |
| Participant deferral / active EE | $3,094 | $2,643+17.1% | $4,168-25.8% | $3,607-14.2% |
| Admin fee / account holder | $1 | $6,370-100.0% | $7,088-100.0% | $5,124-100.0% |