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| Provider | Service type | Compensation |
|---|---|---|
RBC WEALTH MANAGEMENT2+ years Service code 26 · EIN 41-1416330 | Advisory (Participants) | $26,617 |
Service code 26 · EIN 84-1207738 | Advisory (Participants) | $26,611 |
ALERUS FINANCIAL, N.A.1 year Filed as: ALERUS FINANCIAL N.A. Service code 15 · EIN 45-6062081 | Recordkeeping | $10,332 |
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.)
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $76,295 | $57,921+31.7% | $84,753-10.0% | $57,658+32.3% |
| Participation rate | 50.4% | 72.9%-22.6pp | 76.6%-26.2pp | 70.2%-19.9pp |
| Annual return | 8.22% | 10.24%-2.0pp | 22.78%-14.6pp | 5.13%+3.1pp |
| Employer contribution / active EE | $757 | $2,598-70.9% | $3,574-78.8% | $1,974-61.7% |
| Participant deferral / active EE | $3,092 | $2,742+12.8% | $3,712-16.7% | $3,061+1.0% |
| Admin fee / account holder | $415 | $130+220.1% | $5,333-92.2% | $95+339.1% |