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| Provider | Service type | Compensation |
|---|---|---|
Service code 27 · EIN 91-1216229 | Advisory (Plan) | $14,374 |
ALERUS FINANCIAL, N.A.2+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $1,554 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
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 | $27,866 | $49,451-43.6% | $79,580-65.0% | $66,938-58.4% |
| Participation rate | 54.7% | 61.3%-6.6pp | 69.5%-14.8pp | 69.8%-15.1pp |
| Annual return | -11.81% | 84.25%-96.1pp | 0.15%-12.0pp | 1.58%-13.4pp |
| Employer contribution / active EE | $314 | $1,266-75.2% | $2,413-87.0% | $2,545-87.7% |
| Participant deferral / active EE | $2,716 | $3,159-14.0% | $3,985-31.8% | $4,238-35.9% |
| Admin fee / account holder | $224 | $595-62.3% | $6,835-96.7% | $594-62.2% |