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| Provider | Service type | Compensation |
|---|---|---|
RBC WEALTH MANAGEMENT6+ years Service code 26 · EIN 41-1416330 | Advisory (Participants) | $31,136 |
CORRUNDUM GROUP MANAGEMENT5 years Service code 26 · EIN 84-1207738 | Advisory (Participants) | $31,125 |
ALERUS FINANCIAL, N.A.5 years Filed as: ALERUS FINANCIAL N.A. Service code 15 · EIN 45-6062081 | Recordkeeping | $29,507 |
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 declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $86,032 | $91,517-6.0% | $101,264-15.0% | $73,412+17.2% |
| Participation rate | 59.7% | 73.8%-14.0pp | 75.8%-16.1pp | 72.2%-12.4pp |
| Annual return | 17.43% | 17.17%+0.3pp | 46.48%-29.0pp | 59.30%-41.9pp |
| Employer contribution / active EE | $975 | $2,877-66.1% | $3,660-73.3% | $2,234-56.3% |
| Participant deferral / active EE | $3,890 | $3,338+16.5% | $4,370-11.0% | $3,806+2.2% |
| Admin fee / account holder | $353 | $216+63.5% | $5,947-94.1% | $158+123.5% |