Filed December 31, 2019
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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.10+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $50,955 |
Filed as: CETERA INVESTMENT ADVISERS LLC Service code 27 · EIN 36-3258176 | Advisory (Plan) | $21,546 |
INFINITAS6 years Service code 27 10801 MASTIN BLVD · OVERLAND PARK, KS 66212 | Advisory (Plan) | $19,417 |
ACORD COX AND COMPANY2 years Filed as: ACORD COX & SCOTT Service code 10 · EIN 48-1138584 | Accounting | $8,750 |
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.)
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $57,875 | $50,860+13.8% | $155,574-62.8% | $77,714-25.5% |
| Participation rate | 38.4% | 63.1%-24.7pp | 78.2%-39.8pp | 70.6%-32.1pp |
| Annual return | 13.30% | 34.86%-21.6pp | 64.87%-51.6pp | 31.26%-18.0pp |
| Employer contribution / active EE | $900 | $1,991-54.8% | $4,676-80.8% | $2,727-67.0% |
| Participant deferral / active EE | $1,892 | $2,825-33.0% | $5,629-66.4% | $4,649-59.3% |
| Admin fee / account holder | $337 | $436-22.9% | $15,914-97.9% | $433-22.3% |