Plan Snapshot
- Plan Sponsor: Strata Corporation
- Sponsor EIN: 450276869
- Sponsor Address: PO BOX 13500, GRAND FORKS, ND, 582083500
- Plan Type: 401(k)
- Total Participants: 708
- Total Assets: $59.4M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- 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 | 708 | $59.4M | $315,762 | $2.7M |
| 2023 | 638 | $54.1M | $324,950 | $2.6M |
| 2022 | 652 | $50.1M | $331,946 | $2.3M |
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 | $128,064 | — | $128,064 |
| ALERUS INVESTMENT ADVISORS, INC. | NONE | $8,619 | — | $8,619 |
| BRADY, MARTZ & ASSOCIATES, P.C. | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- ALERUS FINANCIAL, N.A. — NONE
- BRADY, MARTZ & ASSOCIATES, P.C. — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $136,683
- Estimated Expense Ratio: 0.230% 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 | $135,722 | $8,619 | — | — | — |
| 2023 | $141,381 | $8,596 | — | — | — |
| 2022 | $137,450 | $137,450 | — | — | — |