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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.)
Annual investment return is in the bottom quintile of the peer cohort.
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 | $91,760+58.2% | $156,181-7.1% | $67,986+113.5% |
| Participation rate | 63.0% | 65.0%-2.0pp | 78.8%-15.8pp | 57.2%+5.8pp |
| Annual return | 11.09% | 18.14%-7.1pp | 64.87%-53.8pp | 31.67%-20.6pp |
| Employer contribution / active EE | $844 | $2,419-65.1% | $4,294-80.4% | $2,019-58.2% |
| Participant deferral / active EE | $4,509 | $3,960+13.9% | $6,132-26.5% | $3,358+34.3% |
| Admin fee / account holder | $390 | $3,949-90.1% | $14,586-97.3% | $3,203-87.8% |