Managed Account Program Enrollment

Key Takeaway

The Alerus Managed Account Program (MAP) is a personalized retirement strategy. It allows you to prioritize goals around retirement age, replacement income, savings rate, and risk tolerance to deliver retirement advice around investing and saving to help navigate retirement with confidence. See your enrollment materials or contact your plan sponsor to see if MAP is available in your plan.

Instructions:

  1. 1

    To enroll in the program, log in to My Alerus.

  2. 2

    From the dashboard, select Financial Wellness from the top menu and click on Retirement Planning to access the workout.

  3. 3

    Complete the workout, inputting personal information and data regarding your retirement needs and goals. If you have already completed the retirement workout, proceed to the next step.

  4. 4

    From the Results page, review the comparison between your current projections and those for the suggested plan, and click Choose Suggested Plan.

  5. 5

    Next, you will be presented with two options for implementing the suggested plan. To enroll in the Managed Account Program, select Do It For Me.

  6. 6

    Accept the terms and conditions for participation. Review the details of the suggested changes and if you are satisfied, click Confirm. A popup window will appear, click Submit to process your new savings rate and investment elections. Access to the retirement workout will be blocked while the transaction is in process.

Program Details

Alerus will act as your investment advisor with full decision-making authority over the investments in your account(s) without having to consult with you in advance. We will have no responsibility or authority over assets that are subject to plan sponsor restrictions; assets held in a self-directed window account if available under your plan; employer securities; real estate (except for real estate funds and publicly traded REITs); self-directed brokerage accounts; participant loans; non-publicly traded partnership interests; other non-publicly traded securities (other than collective trusts, unitized models and similar vehicles); other hard-to-value securities or assets; or other non-standard investment options held in your account(s), and any assets held outside of your account(s).

Account Investment Control

Once enrolled in the managed account service, you will no longer control your account investment online or via paper correspondence. Alerus will be the investment manager of your entire account. However, you retain full inquiry access to your account and the ability to change contributions, request distributions, and provide updates to your personal information. Full access will be restored to your account after you cancel participation in the managed account service.

Cancellation

You may opt-out of managed account services at any time by returning to the managed account website and changing your election to manage the assets yourself.

Expenses

The fee is 0.45% prorated over 365 days and applied to the average daily balance of your managed account. It is accrued daily and collected monthly. On an annual basis, the fee equals approximately $4.50 for each $1,000 invested.

Additional Fees May Apply: Certain investment options such as exchange-traded funds and mutual funds will charge asset management and/or other fees commonly disclosed as an “expense ratio.” These fees are in addition to Alerus fees for our managed account services.