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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.5 years Service code 15 · EIN 45-6062081 | Recordkeeping | $34,969 |
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 | $54,361 | $41,150+32.1% | $80,607-32.6% | $71,495-24.0% |
| Participation rate | 50.4% | 50.3%+0.1pp | 67.0%-16.6pp | 67.9%-17.6pp |
| Annual return | 15.38% | 38.48%-23.1pp | 936.11%-920.7pp | 28.85%-13.5pp |
| Employer contribution / active EE | $1,125 | $1,515-25.8% | $2,724-58.7% | $2,589-56.6% |
| Participant deferral / active EE | $2,177 | $2,701-19.4% | $4,448-51.1% | $4,291-49.3% |
| Admin fee / account holder | $412 | $1,841-77.6% | $5,379-92.3% | $1,588-74.1% |