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| Provider | Service type | Compensation |
|---|---|---|
Filed as: CBIZ FINANCIAL SOLUTIONS, INC. Service code 26 · EIN 52-1396995 | Advisory (Participants) | $8,821 |
ALERUS FINANCIAL, N.A.5 years Service code 15 · EIN 46-0140105 | Recordkeeping | $6,178 |
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.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $42,084 | $61,166-31.2% | $185,837-77.4% | $79,393-47.0% |
| Participation rate | 34.3% | 66.6%-32.4pp | 81.7%-47.4pp | 70.7%-36.4pp |
| Annual return | 22.37% | 19.45%+2.9pp | 122.08%-99.7pp | 116.87%-94.5pp |
| Employer contribution / active EE | $0 | $2,321-100.0% | $5,168-100.0% | $2,428-100.0% |
| Participant deferral / active EE | $371 | $2,789-86.7% | $5,568-93.3% | $4,046-90.8% |
| Admin fee / account holder | $333 | $710-53.0% | $16,241-97.9% | $627-46.8% |