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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.7 years Service code 15 · EIN 46-0140105 | Recordkeeping | $0 |
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.)
Annual investment return is in the bottom quintile of the peer cohort.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $40,591 | $61,356-33.8% | $149,696-72.9% | $71,511-43.2% |
| Participation rate | 30.4% | 62.5%-32.1pp | 78.8%-48.4pp | 67.9%-37.5pp |
| Annual return | 7.12% | 35.86%-28.7pp | 134.46%-127.3pp | 28.86%-21.7pp |
| Employer contribution / active EE | $0 | $2,382-100.0% | $4,821-100.0% | $2,589-100.0% |
| Participant deferral / active EE | $349 | $2,920-88.1% | $5,682-93.9% | $4,291-91.9% |
| Admin fee / account holder | $379 | $1,263-70.0% | $13,212-97.1% | $1,588-76.1% |