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.8 years Service code 15 · EIN 45-6062081 | Recordkeeping | $16,453 |
CHARLES SCHWAB & CO., INC.6 years Filed as: CHARLES SCHWAB BANK Service code 19 · EIN 82-3967259 | Securities Custodian | $659 |
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 | $21,616 | $52,208-58.6% | $86,612-75.0% | $74,419-71.0% |
| Participation rate | 53.0% | 66.3%-13.3pp | 71.7%-18.7pp | 70.7%-17.7pp |
| Annual return | 18.00% | 44.46%-26.5pp | 591.07%-573.1pp | 34.38%-16.4pp |
| Employer contribution / active EE | $498 | $2,282-78.2% | $3,022-83.5% | $2,637-81.1% |
| Participant deferral / active EE | $2,752 | $3,383-18.7% | $4,438-38.0% | $4,528-39.2% |
| Admin fee / account holder | $49 | $319-84.6% | $5,614-99.1% | $348-85.9% |