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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.4+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $19,320 |
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $28,250 | $86,795-67.5% | $67,681-58.3% | $64,728-56.4% |
| Participation rate | 96.8% | 71.7%+25.2pp | 73.7%+23.1pp | 57.9%+38.9pp |
| Annual return | 16.32% | 12.58%+3.7pp | 590.58%-574.3pp | 49.38%-33.1pp |
| Employer contribution / active EE | $1,753 | $2,837-38.2% | $2,678-34.5% | $2,243-21.8% |
| Participant deferral / active EE | $4,048 | $3,430+18.0% | $3,976+1.8% | $2,729+48.3% |
| Admin fee / account holder | $48 | $238-80.0% | $6,100-99.2% | $1,145-95.8% |