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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.3+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $21,999 |
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 | $66,032 | $64,909+1.7% | $82,312-19.8% | $62,293+6.0% |
| Participation rate | 36.2% | 74.9%-38.6pp | 76.9%-40.7pp | 69.5%-33.3pp |
| Annual return | 18.83% | 21.18%-2.3pp | 25.88%-7.0pp | 28.90%-10.1pp |
| Employer contribution / active EE | $707 | $1,676-57.8% | $2,428-70.9% | $2,042-65.4% |
| Participant deferral / active EE | $1,799 | $3,103-42.0% | $3,706-51.5% | $3,169-43.2% |
| Admin fee / account holder | $206 | $440-53.2% | $5,608-96.3% | $479-57.1% |