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.7 years Service code 15 · EIN 45-6062081 | Recordkeeping | $8,092 |
CHARLES SCHWAB & CO., INC.5 years Filed as: CHARLES SCHWAB BANK Service code 19 · EIN 82-3967259 | Securities Custodian | $554 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $16,983 | $47,722-64.4% | $82,719-79.5% | $64,808-73.8% |
| Participation rate | 58.1% | 67.6%-9.5pp | 72.6%-14.4pp | 71.5%-13.4pp |
| Annual return | -11.64% | -13.05%+1.4pp | 701.18%-712.8pp | 32.82%-44.5pp |
| Employer contribution / active EE | $435 | $2,179-80.0% | $3,009-85.5% | $2,506-82.6% |
| Participant deferral / active EE | $2,764 | $3,329-17.0% | $4,395-37.1% | $4,310-35.9% |
| Admin fee / account holder | $23 | $143-83.6% | $5,329-99.6% | $188-87.5% |