Filed February 29, 2008
This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.
See peer percentile detail. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
See the 10-year trajectory. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.1+ years Filed as: ALERUS FINANCIAL Service code 15 · EIN 45-6062081 | Recordkeeping | $920 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $46,209 | $37,117+24.5% | $147,614-68.7% | $55,191-16.3% |
| Participation rate | 4.2% | 63.6%-59.4pp | 84.6%-80.4pp | 69.2%-65.0pp |
| Annual return | 0.61% | 3.44%-2.8pp | 61.98%-61.4pp | 10.78%-10.2pp |
| Employer contribution / active EE | $0 | $1,620-100.0% | $5,564-100.0% | $1,899-100.0% |
| Participant deferral / active EE | $374 | $1,985-81.2% | $4,895-92.4% | $3,046-87.7% |
| Admin fee / account holder | $23 | $86-73.5% | $11,611-99.8% | $91-75.0% |