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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.1+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $13,860 |
RYAN & COCIA, PC1+ years Service code 10 · EIN 04-2894876 | Accounting | $8,650 |
WHITE NELSON DIEHL EVANS LLP1+ years Service code 10 · EIN 33-0686301 | Accounting | $5,000 |
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.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $75,545 | $50,464+49.7% | $75,784-0.3% | $52,331+44.4% |
| Participation rate | 44.2% | 66.8%-22.6pp | 75.8%-31.6pp | 68.1%-23.9pp |
| Annual return | 1.41% | 1.03%+0.4pp | 9.68%-8.3pp | 4.54%-3.1pp |
| Employer contribution / active EE | $301 | $1,988-84.8% | $3,323-90.9% | $1,882-84.0% |
| Participant deferral / active EE | $1,908 | $2,570-25.8% | $3,652-47.7% | $3,022-36.9% |
| Admin fee / account holder | $437 | $1,103-60.4% | $5,300-91.8% | $592-26.2% |