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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.10+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $47,475 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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.
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 | $91,670 | $67,638+35.5% | $133,346-31.3% | $69,733+31.5% |
| Participation rate | 97.0% | 54.3%+42.7pp | 72.8%+24.2pp | 62.5%+34.5pp |
| Annual return | 4.92% | 13.38%-8.5pp | 36.85%-31.9pp | 15.22%-10.3pp |
| Employer contribution / active EE | $2,130 | $1,177+80.9% | $2,853-25.3% | $2,250-5.3% |
| Participant deferral / active EE | $3,131 | $2,567+22.0% | $4,332-27.7% | $3,054+2.5% |
| Admin fee / account holder | $386 | $4,814-92.0% | $14,264-97.3% | $3,102-87.6% |