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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.1 year Filed as: ALERUS FINANCIAL N.A. Service code 15 · EIN 45-6062081 | Recordkeeping | $179,107 |
Filed as: GLOBAL RETIREMENT PARTNERS Service code 26 · EIN 47-1411118 | Advisory (Participants) | $8,964 |
Service code 37 · EIN 35-0145825 | Loan Processing | $225 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
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 | $80,796 | $84,493-4.4% | $125,381-35.6% | $66,938+20.7% |
| Participation rate | 92.1% | 76.4%+15.7pp | 82.4%+9.7pp | 69.8%+22.3pp |
| Annual return | -22.78% | -8.49%-14.3pp | 572.31%-595.1pp | 1.58%-24.4pp |
| Employer contribution / active EE | $4,162 | $3,554+17.1% | $4,815-13.6% | $2,545+63.5% |
| Participant deferral / active EE | $5,484 | $6,783-19.2% | $7,448-26.4% | $4,238+29.4% |
| Admin fee / account holder | $843 | $685+23.1% | $10,007-91.6% | $594+42.1% |