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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.9+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $21,420 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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).
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $27,177 | $55,437-51.0% | $155,534-82.5% | $74,459-63.5% |
| Participation rate | 53.4% | 61.9%-8.5pp | 78.2%-24.9pp | 67.2%-13.9pp |
| Annual return | 11.60% | 269.58%-258.0pp | 64.92%-53.3pp | 1369.70%-1358.1pp |
| Employer contribution / active EE | $739 | $2,266-67.4% | $4,675-84.2% | $2,626-71.8% |
| Participant deferral / active EE | $1,248 | $2,837-56.0% | $5,630-77.8% | $4,350-71.3% |
| Admin fee / account holder | $144 | $1,742-91.7% | $15,900-99.1% | $1,945-92.6% |