Filed February 13, 2023
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| Provider | Service type | Compensation |
|---|---|---|
CORRUNDUM GROUP MANAGEMENT8 years Service code 26 · EIN 41-1416330 | Advisory (Participants) | $29,869 |
RBC WEALTH MANAGEMENT8 years Service code 26 · EIN 41-1416330 | Advisory (Participants) | $29,869 |
ALERUS FINANCIAL, N.A.8 years Service code 15 · EIN 45-6062081 | Recordkeeping | $10,150 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $85,650 | $76,696+11.7% | $96,515-11.3% | $71,511+19.8% |
| Participation rate | 92.7% | 66.6%+26.2pp | 74.3%+18.4pp | 67.9%+24.8pp |
| Annual return | 19.52% | 48.32%-28.8pp | 35.73%-16.2pp | 28.86%-9.3pp |
| Employer contribution / active EE | $3,518 | $3,032+16.0% | $3,740-5.9% | $2,589+35.9% |
| Participant deferral / active EE | $7,541 | $3,770+100.0% | $4,880+54.5% | $4,291+75.8% |
| Admin fee / account holder | $429 | $2,030-78.9% | $6,735-93.6% | $1,588-73.0% |