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.5 years Service code 15 · EIN 45-6062081 | Recordkeeping | $18,814 |
CHARLES SCHWAB & CO., INC.3 years Filed as: CHARLES SCHWAB BANK Service code 19 · EIN 42-1558009 | Securities Custodian | $0 |
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.
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 signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $14,326 | $66,124-78.3% | $90,404-84.2% | $73,488-80.5% |
| Participation rate | 75.5% | 69.7%+5.9pp | 72.7%+2.9pp | 70.7%+4.9pp |
| Annual return | 7.38% | 17.65%-10.3pp | 1293.02%-1285.6pp | 28.51%-21.1pp |
| Employer contribution / active EE | $558 | $2,346-76.2% | $3,262-82.9% | $2,270-75.4% |
| Participant deferral / active EE | $2,679 | $3,039-11.8% | $3,963-32.4% | $3,740-28.3% |
| Admin fee / account holder | $98 | $396-75.3% | $5,611-98.3% | $513-80.9% |