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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.3+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $32,673 |
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.
Annual investment return is in the bottom quintile of the peer cohort.
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 | $37,437 | $60,545-38.2% | $92,240-59.4% | $69,631-46.2% |
| Participation rate | 16.6% | 72.2%-55.5pp | 76.5%-59.9pp | 70.7%-54.1pp |
| Annual return | 12.29% | 19.71%-7.4pp | 176.29%-164.0pp | 27571.02%-27558.7pp |
| Employer contribution / active EE | $564 | $2,633-78.6% | $3,680-84.7% | $2,032-72.3% |
| Participant deferral / active EE | $1,008 | $2,828-64.3% | $3,897-74.1% | $3,224-68.7% |
| Admin fee / account holder | $215 | $145+48.5% | $5,194-95.9% | $110+94.6% |