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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.7+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $16,820 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $25,595 | $65,083-60.7% | $143,788-82.2% | $66,930-61.8% |
| Participation rate | 43.9% | 65.2%-21.3pp | 80.3%-36.4pp | 69.8%-25.9pp |
| Annual return | -4.79% | -11.13%+6.3pp | -0.03%-4.8pp | 1.57%-6.4pp |
| Employer contribution / active EE | $503 | $2,361-78.7% | $4,952-89.8% | $2,545-80.2% |
| Participant deferral / active EE | $1,061 | $2,920-63.7% | $5,638-81.2% | $4,238-75.0% |
| Admin fee / account holder | $126 | $502-74.8% | $14,675-99.1% | $593-78.7% |