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| Provider | Service type | Compensation |
|---|---|---|
FINANCIAL STRATEGIES GROUP5+ years Service code 28 · EIN 37-1456006 | Investment Management | $60,083 |
ALERUS FINANCIAL, N.A.5+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $18,332 |
RELIANCE TRUST COMPANY1 year Filed as: RELIANCE Service code 15 | Recordkeeping | $4,424 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $38,676 | $40,174-3.7% | $84,020-54.0% | $67,579-42.8% |
| Participation rate | 57.2% | 62.7%-5.5pp | 69.0%-11.8pp | 71.3%-14.1pp |
| Annual return | 16.56% | 25.82%-9.3pp | 71.31%-54.8pp | 378.56%-362.0pp |
| Employer contribution / active EE | $530 | $808-34.4% | $1,984-73.3% | $2,148-75.3% |
| Participant deferral / active EE | $2,212 | $2,301-3.9% | $3,239-31.7% | $3,539-37.5% |
| Admin fee / account holder | $458 | $128+256.7% | $6,101-92.5% | $142+221.7% |