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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.1+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $23,355 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $55,307 | $54,320+1.8% | $67,652-18.2% | $52,331+5.7% |
| Participation rate | 37.6% | 73.6%-36.0pp | 75.7%-38.1pp | 68.1%-30.5pp |
| Annual return | 0.33% | 6.81%-6.5pp | 6625.40%-6625.1pp | 4.54%-4.2pp |
| Employer contribution / active EE | $579 | $1,544-62.5% | $2,266-74.4% | $1,882-69.2% |
| Participant deferral / active EE | $1,636 | $2,950-44.5% | $3,560-54.0% | $3,022-45.9% |
| Admin fee / account holder | $188 | $527-64.2% | $4,821-96.1% | $592-68.2% |