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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.1+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $8,219 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Annual investment return is in the bottom quintile of the peer cohort.
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $19,496 | $36,916-47.2% | $156,551-87.5% | $57,658-66.2% |
| Participation rate | 30.9% | 63.4%-32.6pp | 84.0%-53.2pp | 70.2%-39.4pp |
| Annual return | -0.17% | 12.38%-12.6pp | 32.23%-32.4pp | 5.13%-5.3pp |
| Employer contribution / active EE | $344 | $1,571-78.1% | $5,501-93.7% | $1,974-82.6% |
| Participant deferral / active EE | $611 | $1,926-68.3% | $4,871-87.5% | $3,061-80.0% |
| Admin fee / account holder | $70 | $82-14.8% | $13,028-99.5% | $95-25.7% |