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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.4 years Service code 15 · EIN 45-6062081 | Recordkeeping | $7,005 |
Employer contribution per participant is in the bottom quintile of the peer cohort.
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $53,604 | $86,692-38.2% | $119,634-55.2% | $66,949-19.9% |
| Participation rate | 96.0% | 75.6%+20.5pp | 79.3%+16.8pp | 69.8%+26.2pp |
| Annual return | -17.93% | -8.00%-9.9pp | -14.98%-2.9pp | 1.57%-19.5pp |
| Employer contribution / active EE | $709 | $2,536-72.0% | $4,232-83.2% | $2,545-72.1% |
| Participant deferral / active EE | $3,254 | $4,360-25.4% | $5,601-41.9% | $4,239-23.2% |
| Admin fee / account holder | $56 | $755-92.6% | $10,329-99.5% | $594-90.6% |