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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 | $65,246+40.5% | $98,716-7.1% | $67,986+34.8% |
| Participation rate | 97.0% | 51.4%+45.6pp | 69.3%+27.7pp | 57.2%+39.8pp |
| Annual return | 4.92% | 20.58%-15.7pp | 31.81%-26.9pp | 31.67%-26.7pp |
| Employer contribution / active EE | $2,130 | $1,042+104.4% | $2,279-6.5% | $2,019+5.5% |
| Participant deferral / active EE | $3,131 | $2,594+20.7% | $4,048-22.7% | $3,358-6.8% |
| Admin fee / account holder | $386 | $4,561-91.5% | $8,703-95.6% | $3,203-88.0% |