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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.3 years Service code 15 · EIN 45-6062081 | Recordkeeping | $2,596 |
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 | $156,883 | $54,573+187.5% | $90,965+72.5% | $73,493+113.5% |
| Participation rate | 45.7% | 61.2%-15.5pp | 69.0%-23.3pp | 70.7%-25.0pp |
| Annual return | 33.57% | 16.69%+16.9pp | 134.57%-101.0pp | 28.51%+5.1pp |
| Employer contribution / active EE | $132 | $991-86.6% | $2,122-93.8% | $2,270-94.2% |
| Participant deferral / active EE | $4,133 | $2,517+64.2% | $3,373+22.5% | $3,740+10.5% |
| Admin fee / account holder | $185 | $521-64.6% | $5,960-96.9% | $513-64.0% |