Filed December 9, 2016 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.1+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $2,362 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Annual investment return is in the bottom quintile of the peer cohort.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $52,932 | $46,732+13.3% | $156,551-66.2% | $55,167-4.1% |
| Participation rate | 29.0% | 65.8%-36.8pp | 84.0%-55.0pp | 69.0%-40.0pp |
| Annual return | -0.14% | 17.72%-17.9pp | 32.23%-32.4pp | 169.23%-169.4pp |
| Employer contribution / active EE | $504 | $2,105-76.0% | $5,501-90.8% | $1,963-74.3% |
| Participant deferral / active EE | $1,112 | $2,204-49.6% | $4,871-77.2% | $3,054-63.6% |
| Admin fee / account holder | $21 | $418-94.9% | $13,028-99.8% | $504-95.7% |