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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.1 year Service code 15 · EIN 45-6062081 | Recordkeeping | $7,343 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $114,412 | $42,548+168.9% | $74,552+53.5% | $56,287+103.3% |
| Participation rate | 53.7% | 60.5%-6.8pp | 69.1%-15.4pp | 69.9%-16.1pp |
| Annual return | 14.70% | 12.40%+2.3pp | 32.53%-17.8pp | -9.96%+24.7pp |
| Employer contribution / active EE | $165 | $855-80.7% | $1,961-91.6% | $2,111-92.2% |
| Participant deferral / active EE | $4,750 | $2,277+108.6% | $3,108+52.8% | $3,350+41.8% |
| Admin fee / account holder | $113 | $467-75.9% | $5,060-97.8% | $521-78.4% |