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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.5 years Service code 15 · EIN 45-6062081 | Recordkeeping | $7,815 |
Employer contribution per participant is in the bottom quintile of the peer cohort.
Annual investment return 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 | $61,209 | $83,045-26.3% | $130,045-52.9% | $71,511-14.4% |
| Participation rate | 84.9% | 74.1%+10.8pp | 78.5%+6.4pp | 67.9%+17.0pp |
| Annual return | 13.16% | 20.61%-7.4pp | -137.30%+150.5pp | 28.86%-15.7pp |
| Employer contribution / active EE | $758 | $2,623-71.1% | $4,321-82.5% | $2,589-70.7% |
| Participant deferral / active EE | $3,272 | $4,436-26.2% | $5,820-43.8% | $4,291-23.7% |
| Admin fee / account holder | $68 | $1,727-96.1% | $10,600-99.4% | $1,588-95.7% |