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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.4 years Service code 15 · EIN 45-6062081 | Recordkeeping | $16,368 |
TITAN RETIREMENT ADVISORS, LLC6+ years Service code 26 · EIN 46-1287858 | Advisory (Participants) | $16,368 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $70,431 | $73,638-4.4% | $95,956-26.6% | $73,493-4.2% |
| Participation rate | 47.5% | 76.2%-28.6pp | 77.1%-29.5pp | 70.7%-23.1pp |
| Annual return | 13.78% | 16.78%-3.0pp | 91.63%-77.8pp | 28.51%-14.7pp |
| Employer contribution / active EE | $1,178 | $1,863-36.8% | $2,541-53.6% | $2,270-48.1% |
| Participant deferral / active EE | $3,123 | $3,617-13.7% | $4,167-25.1% | $3,740-16.5% |
| Admin fee / account holder | $455 | $482-5.7% | $6,797-93.3% | $513-11.4% |