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| Provider | Service type | Compensation |
|---|---|---|
Filed as: PETER HASTINGS INVESTMENT MANAGEMEN Service code 26 · EIN 91-1216229 | Advisory (Participants) | $18,370 |
ALERUS FINANCIAL, N.A.4 years Service code 15 · EIN 45-6062081 | Recordkeeping | $5,626 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $54,262 | $58,312-6.9% | $86,656-37.4% | $71,529-24.1% |
| Participation rate | 24.2% | 65.0%-40.8pp | 71.7%-47.5pp | 67.9%-43.7pp |
| Annual return | 8.02% | 24.08%-16.1pp | 593.09%-585.1pp | 28.97%-21.0pp |
| Employer contribution / active EE | $524 | $2,576-79.7% | $3,025-82.7% | $2,590-79.8% |
| Participant deferral / active EE | $740 | $3,439-78.5% | $4,439-83.3% | $4,291-82.7% |
| Admin fee / account holder | $490 | $1,057-53.7% | $5,619-91.3% | $1,588-69.2% |