Plan Snapshot
- Plan Sponsor: Noran Neurological Clinic, P.A.
- Sponsor EIN: 410984062
- Sponsor Address: 3601 MINNESOTA DRIVE, STE. 200, BLOOMINGTON, MN, 55435
- Plan Type: 401(k)
- Total Participants: 242
- Total Assets: $153.6M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 242 | $153.6M | $220,451 | $1.6M |
| 2023 | 250 | $155.8M | $217,774 | $1.6M |
| 2022 | 244 | $126.2M | $221,604 | $1.6M |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| ALERUS FINANCIAL, N.A. | NONE | $96,072 | — | $96,072 |
| OLSON, THIELEN & CO., LTD. | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- ALERUS FINANCIAL, N.A. — NONE
- OLSON, THIELEN & CO., LTD. — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $96,072
- Estimated Expense Ratio: 0.063% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $96,072 | — | — | — | — |
| 2023 | $78,798 | — | — | — | — |
| 2022 | $74,209 | — | — | — | — |