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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.3+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $16,474 |
WHITE NELSON DIEHL EVANS LLP3+ years Service code 10 · EIN 33-0686301 | Accounting | $8,400 |
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.)
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 declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $79,825 | $58,726+35.9% | $92,240-13.5% | $62,293+28.1% |
| Participation rate | 44.0% | 68.3%-24.3pp | 76.5%-32.5pp | 69.5%-25.5pp |
| Annual return | 4.74% | 43.62%-38.9pp | 176.29%-171.6pp | 28.90%-24.2pp |
| Employer contribution / active EE | $356 | $2,392-85.1% | $3,680-90.3% | $2,042-82.6% |
| Participant deferral / active EE | $2,156 | $2,766-22.0% | $3,897-44.7% | $3,169-32.0% |
| Admin fee / account holder | $389 | $556-30.2% | $5,194-92.5% | $479-18.9% |