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Solo shows the percentile for each metric against plans of the same size and industry. $4.99 for your first month, then $34.99 a month. Cancel any time.
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Solo shows up to ten years of filings for this plan, year over year. $4.99 for your first month, then $34.99 a month. Cancel any time.
| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.2+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $31,639 |
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.
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $39,759 | $37,044+7.3% | $71,796-44.6% | $57,658-31.0% |
| Participation rate | 59.5% | 61.1%-1.6pp | 69.1%-9.6pp | 70.2%-10.7pp |
| Annual return | 7.14% | 12.64%-5.5pp | 78.04%-70.9pp | 5.13%+2.0pp |
| Employer contribution / active EE | $132 | $720-81.7% | $1,924-93.2% | $1,974-93.3% |
| Participant deferral / active EE | $2,121 | $1,974+7.5% | $2,794-24.1% | $3,061-30.7% |
| Admin fee / account holder | $93 | $101-7.5% | $4,815-98.1% | $95-1.3% |