Alerus Retirement Solutions provides flexible, customized retirement plan administration for more than 1,100 plans nationwide. The majority are daily valued 401(k) plans that use an open investment platform. We consistently receive high marks from our clients on the services we provide and have established a successful track record in the 401(k) business.

In order to deliver the best possible solution to meet each customer's needs, we sometimes package our services with those of another professional or firm. Two recent examples epitomize this strategy.

Offering Administrative Services for KSOPs
Our expertise is in the 401(k) plan arena, but potential clients ask us if we provide administrative services for KSOPs [an Employee Stock Ownership Plan with a 401(k) feature]. We have a leading ESOP fiduciary practice; however, we do not specialize in administration for the ESOP portion of the KSOP. Likewise, Crowe Chizek and Company LLC, a leading national provider of ESOP recordkeeping and consulting services, has expertise managing the ESOP portion of KSOPs but does not specialize in 401(k) daily valuation. After much discussion, due diligence and system integration, Alerus and Crowe Chizek and Company LLC implemented a formidable KSOP arrangement that combines the best-in-class services of each firm and delivers them in a seamless package to plan sponsors and participants.

Enhancing Nonqualified Deferred Compensation Solutions
A similar scenario exists in the nonqualified deferred compensation arena. Alerus Retirement Solutions expertly handles the ongoing record keeping and grantor trust administration for various nonqualified arrangements. However, until recently, we struggled when asked to address feasibility, plan design and funding questions.

We found our solution when Management Compensation Resources, LLC (MCR), a Minneapolis-based consulting firm specializing in nonqualified benefit plan design, analysis, funding and implementation, came to Alerus looking for administration and trustee services. Scott Rollin, president and founder of MCR, needed record-keeping options for his clients and began referring business to us. Likewise, we immediately recognized Scott's expertise and began consulting with him about our existing retirement plan client base. Our relationship with MCR has evolved into a strategic partnership where, together, we provide a complete and flexible array of consulting and administrative services to current and potential nonqualified plan clients.

These are just two recent examples where partnering was the best solution for our clients. We are open to exploring new relationships and alliances as opportunities arise. For more information about current or potential alliances, please contact Richard Joseph at 952.449.5115 or rjoseph@alerusmail.com.

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