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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.8 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.)
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $48,354 | $81,248-40.5% | $155,509-68.9% | $80,856-40.2% |
| Participation rate | 28.4% | 66.2%-37.8pp | 78.2%-49.8pp | 67.6%-39.2pp |
| Annual return | 14.24% | 33.31%-19.1pp | 64.67%-50.4pp | 35.59%-21.4pp |
| Employer contribution / active EE | $0 | $3,100-100.0% | $4,672-100.0% | $2,755-100.0% |
| Participant deferral / active EE | $383 | $3,452-88.9% | $5,626-93.2% | $4,296-91.1% |
| Admin fee / account holder | $404 | $7,997-95.0% | $15,912-97.5% | $6,918-94.2% |