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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.5 years Service code 15 · EIN 45-6062081 | Recordkeeping | $85,071 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $89,484 | $82,979+7.8% | $102,412-12.6% | $77,736+15.1% |
| Participation rate | 68.7% | 71.5%-2.8pp | 74.5%-5.8pp | 70.6%-1.9pp |
| Annual return | 11.77% | 19.11%-7.3pp | 24.94%-13.2pp | 31.26%-19.5pp |
| Employer contribution / active EE | $1,594 | $3,554-55.2% | $3,870-58.8% | $2,728-41.6% |
| Participant deferral / active EE | $3,645 | $4,109-11.3% | $5,060-28.0% | $4,651-21.6% |
| Admin fee / account holder | $381 | $639-40.3% | $8,388-95.5% | $433-12.0% |