Filed October 27, 2014
See peer percentile detail. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
See the 10-year trajectory. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.4 years Service code 15 · EIN 45-6062081 | Recordkeeping | $20,457 |
CHARLES SCHWAB & CO., INC.2 years Filed as: CHARLES SCHWAB BANK Service code 19 · EIN 42-1558009 | Securities Custodian | $0 |
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $8,906 | $54,237-83.6% | $90,281-90.1% | $67,579-86.8% |
| Participation rate | 76.9% | 68.6%+8.3pp | 73.3%+3.6pp | 71.3%+5.6pp |
| Annual return | 19.28% | 37.27%-18.0pp | 78.10%-58.8pp | 378.56%-359.3pp |
| Employer contribution / active EE | $504 | $1,846-72.7% | $2,854-82.3% | $2,148-76.5% |
| Participant deferral / active EE | $2,222 | $2,625-15.3% | $3,885-42.8% | $3,539-37.2% |
| Admin fee / account holder | $76 | $123-38.6% | $5,351-98.6% | $142-46.8% |