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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.8+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $41,193 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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.
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 | $72,276 | $54,717+32.1% | $86,216-16.2% | $71,511+1.1% |
| Participation rate | 61.6% | 60.1%+1.5pp | 69.0%-7.4pp | 67.9%-6.3pp |
| Annual return | -5.85% | 20.07%-25.9pp | 1169.42%-1175.3pp | 28.86%-34.7pp |
| Employer contribution / active EE | $1,381 | $1,267+9.0% | $2,382-42.0% | $2,589-46.6% |
| Participant deferral / active EE | $1,988 | $3,110-36.1% | $3,986-50.1% | $4,291-53.7% |
| Admin fee / account holder | $324 | $1,922-83.1% | $6,853-95.3% | $1,588-79.6% |