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Solo shows the percentile for each metric against plans of the same size and industry. $4.99 for your first month, then $34.99 a month. Cancel any time.
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Solo shows up to ten years of filings for this plan, year over year. $4.99 for your first month, then $34.99 a month. Cancel any time.
| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.5 years Service code 15 · EIN 45-6062081 | Recordkeeping | $8,782 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $28,657 | $54,701-47.6% | $86,188-66.8% | $71,457-59.9% |
| Participation rate | 32.5% | 60.1%-27.6pp | 69.0%-36.5pp | 67.9%-35.4pp |
| Annual return | 14.27% | 20.06%-5.8pp | 1168.45%-1154.2pp | 28.85%-14.6pp |
| Employer contribution / active EE | $466 | $1,265-63.2% | $2,380-80.4% | $2,588-82.0% |
| Participant deferral / active EE | $803 | $3,108-74.2% | $3,985-79.8% | $4,289-81.3% |
| Admin fee / account holder | $133 | $1,922-93.1% | $6,852-98.1% | $1,587-91.6% |