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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.7+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $53,992 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $129,591 | $84,936+52.6% | $111,308+16.4% | $79,391+63.2% |
| Participation rate | 49.6% | 75.9%-26.3pp | 77.3%-27.7pp | 70.7%-21.1pp |
| Annual return | 16.13% | 17.45%-1.3pp | 54.67%-38.5pp | 116.88%-100.8pp |
| Employer contribution / active EE | $930 | $1,979-53.0% | $2,732-65.9% | $2,428-61.7% |
| Participant deferral / active EE | $2,530 | $3,888-34.9% | $4,487-43.6% | $4,046-37.5% |
| Admin fee / account holder | $593 | $537+10.5% | $7,965-92.6% | $627-5.3% |