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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.1+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $31,962 |
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 | $15,358 | $79,124-80.6% | $60,899-74.8% | $64,814-76.3% |
| Participation rate | 97.1% | 77.7%+19.4pp | 73.1%+24.0pp | 71.5%+25.6pp |
| Annual return | -15.10% | -7.13%-8.0pp | 16.92%-32.0pp | 32.84%-47.9pp |
| Employer contribution / active EE | $1,523 | $3,050-50.1% | $2,702-43.6% | $2,507-39.2% |
| Participant deferral / active EE | $3,963 | $3,725+6.4% | $3,817+3.8% | $4,310-8.1% |
| Admin fee / account holder | $79 | $106-25.1% | $3,225-97.5% | $188-57.9% |