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| Provider | Service type | Compensation |
|---|---|---|
MARINER LLC4 years Filed as: MARINER, LLC Service code 27 · EIN 20-4553256 | Advisory (Plan) | $30,003 |
ALERUS FINANCIAL, N.A.10+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $17,178 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $145,136 | $98,547+47.3% | $216,567-33.0% | $69,733+108.1% |
| Participation rate | 63.0% | 68.4%-5.3pp | 81.6%-18.6pp | 62.5%+0.6pp |
| Annual return | 11.09% | 14.25%-3.2pp | 12.94%-1.9pp | 15.22%-4.1pp |
| Employer contribution / active EE | $844 | $2,660-68.3% | $5,216-83.8% | $2,250-62.5% |
| Participant deferral / active EE | $4,509 | $3,496+29.0% | $6,191-27.2% | $3,054+47.6% |
| Admin fee / account holder | $390 | $4,094-90.5% | $21,981-98.2% | $3,102-87.4% |