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| Provider | Service type | Compensation |
|---|---|---|
WEALTH MANAGEMENT GROUP OF TN1+ years Service code 26 · EIN 41-5476344 | Advisory (Participants) | $10,556 |
ALERUS FINANCIAL, N.A.1+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $9,539 |
Service code 64 · EIN 84-0467907 | Recordkeeping Fees | $254 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Annual investment return is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $21,865 | $57,108-61.7% | $94,228-76.8% | $52,331-58.2% |
| Participation rate | 68.7% | 72.9%-4.2pp | 78.8%-10.1pp | 68.1%+0.6pp |
| Annual return | -2.59% | 1.47%-4.1pp | 10.68%-13.3pp | 4.54%-7.1pp |
| Employer contribution / active EE | $1,086 | $1,735-37.4% | $3,587-69.7% | $1,882-42.3% |
| Participant deferral / active EE | $3,563 | $3,040+17.2% | $4,320-17.5% | $3,022+17.9% |
| Admin fee / account holder | $116 | $546-78.8% | $6,269-98.2% | $592-80.5% |