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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.7 years Service code 15 · EIN 45-6062081 | Recordkeeping | $60,178 |
ALERUS FINANCIAL, N.A.2 years Filed as: ALERUS INVESTMENT ADVISOR, INC. Service code 26 · EIN 42-1378382 | Advisory (Participants) | $2,246 |
24 funds of $250K or more; 19 lines in all, holding $24.5M of the plan's $24.5M. From the 2025 filing. Recordkeeper: Alerus Financial.
Target-date series: Vanguard Target Retirement, mutual fund, 23% of fund dollars
| Fund | Dollars | % of funds% |
|---|---|---|
| Vanguard Target Retirement Vanguard · Mutual fund Target-date, 10 vintages | $5.7M | 23.3% |
| Fidelity 500 Index Fund Fidelity (FMR) · Mutual fund IndexPossible retail class A | $4.0M | 16.2% |
| Fidelity Advisor Equity Growth Fund Class Z Fidelity (FMR) · Mutual fund Possible retail class A | $2.8M | 11.4% |
| Vanguard Explorer Fund Admiral Shares Vanguard · Mutual fund Possible retail class A | $1.7M | 7.1% |
| NEW Perspective Fund Class R-6 Capital Group · Mutual fund Possible retail class A | $1.4M | 5.6% |
| Vanguard Equity Income Fund Admiral Shares Vanguard · Mutual fund Possible retail class A | $1.4M | 5.5% |
| Wells Fargo Bk Declaration Stable Value Fund Allspring · Stable value Stable value | $1.1M | 4.3% |
| JPMorgan Mid Cap Growth Fund Class R6 JPMorgan · Mutual fund Possible retail class A | $1.0M | 4.1% |
| Vanguard Morningstar Small-Cap Index Fund Admiral Shares Vanguard · Mutual fund IndexPossible retail class A | $842K | 3.4% |
| Vanguard Morningstar Mid-Cap Index Fund Admiral Shares Vanguard · Mutual fund IndexPossible retail class A | $838K | 3.4% |
Likely replaced 1 fund. Moved 1 fund from collective trust to mutual fund.
| Fund | Year-end value |
|---|---|
| Collective trust to mutual fundVanguard Index Trust Mid-Cap Index Fund Admiral to Vanguard Morningstar Mid-Cap Index Fund Admiral Shares | $433K to $838K |
| ReplacedHighFederated Hermes Institutional High Yield Bond Fund Institutional Shares to American Funds American High-Income Trust Class R-6 | $281K to $258K |
Stable value and insurance contract lines, renames and class changes are not counted. Left out here: 2 stable value or insurance lines, 2 renames.
Changes of at least $250K and 0.1% of the plan between the 2024 and 2025 filings. Values are year-end holdings, not money moved.
Covers 71,410 large plans that list their funds in their annual filing. Updated Nov 6, 2026. Shares describe these plans, not the whole market.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
The auditor signed off without reservation. This is the cleanest opinion.