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| Provider | Service type | Compensation |
|---|---|---|
CORRUNDUM GROUP MANAGEMENT9 years Service code 26 · EIN 84-1207738 | Advisory (Participants) | $51,250 |
RBC WEALTH MANAGEMENT10+ years Service code 26 · EIN 41-1416330 | Advisory (Participants) | $51,250 |
ALERUS FINANCIAL, N.A.9 years Filed as: ALERUS FINANCIAL N.A. Service code 15 · EIN 45-6062081 | Recordkeeping | $39,108 |
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.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $117,879 | $82,979+42.1% | $102,412+15.1% | $77,736+51.6% |
| Participation rate | 51.5% | 71.5%-20.1pp | 74.5%-23.0pp | 70.6%-19.1pp |
| Annual return | 13.86% | 19.11%-5.3pp | 24.94%-11.1pp | 31.26%-17.4pp |
| Employer contribution / active EE | $891 | $3,554-74.9% | $3,870-77.0% | $2,728-67.4% |
| Participant deferral / active EE | $4,160 | $4,109+1.2% | $5,060-17.8% | $4,651-10.6% |
| Admin fee / account holder | $526 | $639-17.6% | $8,388-93.7% | $433+21.5% |