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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 | $64,010+43.2% | $108,359-15.4% | $64,340+42.5% |
| Participation rate | 97.0% | 49.4%+47.6pp | 70.1%+26.9pp | 55.2%+41.8pp |
| Annual return | 4.92% | 19.74%-14.8pp | 36.89%-32.0pp | 24.14%-19.2pp |
| Employer contribution / active EE | $2,130 | $1,029+107.1% | $2,399-11.2% | $1,862+14.4% |
| Participant deferral / active EE | $3,131 | $2,395+30.7% | $4,137-24.3% | $2,980+5.0% |
| Admin fee / account holder | $386 | $4,885-92.1% | $9,741-96.0% | $3,703-89.6% |