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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 | $93,351-69.7% | $62,929-55.1% | $79,634-64.5% |
| Participation rate | 96.8% | 74.6%+22.2pp | 73.1%+23.7pp | 62.5%+34.3pp |
| Annual return | 16.32% | 14.37%+2.0pp | 1063.93%-1047.6pp | 36.46%-20.1pp |
| Employer contribution / active EE | $1,753 | $3,135-44.1% | $2,505-30.0% | $2,529-30.7% |
| Participant deferral / active EE | $4,048 | $3,921+3.2% | $3,888+4.1% | $3,835+5.6% |
| Admin fee / account holder | $48 | $229-79.2% | $5,065-99.1% | $1,002-95.3% |