Sign up free to preview peer percentile detail
Free accounts unlock saves, downloads, and 3-year history.
Sign up free to preview 10-year trajectory
Free accounts unlock saves, downloads, and 3-year history.
| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.2+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $198,319 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant 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.
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $13,308 | $54,392-75.5% | $84,753-84.3% | $63,975-79.2% |
| Participation rate | 63.3% | 76.9%-13.6pp | 76.6%-13.3pp | 71.1%-7.8pp |
| Annual return | 6.78% | 611.38%-604.6pp | 22.78%-16.0pp | 48.65%-41.9pp |
| Employer contribution / active EE | $470 | $2,943-84.0% | $3,574-86.9% | $2,182-78.5% |
| Participant deferral / active EE | $1,714 | $2,593-33.9% | $3,712-53.8% | $3,356-48.9% |
| Admin fee / account holder | $52 | $136-62.0% | $5,333-99.0% | $70-26.8% |