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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.4+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $13,327 |
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.
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $25,033 | $62,928-60.2% | $172,752-85.5% | $67,579-63.0% |
| Participation rate | 37.2% | 64.5%-27.3pp | 82.6%-45.5pp | 71.3%-34.1pp |
| Annual return | 7.45% | 30.36%-22.9pp | 802.97%-795.5pp | 378.56%-371.1pp |
| Employer contribution / active EE | $456 | $1,636-72.2% | $5,144-91.1% | $2,148-78.8% |
| Participant deferral / active EE | $884 | $2,145-58.8% | $5,198-83.0% | $3,539-75.0% |
| Admin fee / account holder | $107 | $167-36.0% | $13,955-99.2% | $142-25.1% |