Recordkeeping fees per participant
not reported
Not reported on this filing.
Employers › Alerus Financial
Alerus Financial 401(k)
- ALRS Nasdaq
- Finance and insurance
- Grand Forks, ND
- EIN 45-0375407
- 1 plan with Schedule H financials
- Plan year 2024
- Alerus Financial Corporation
- SEC registrant Alerus Financial Corp
Total assets, end of year · Alerus Financial Corporation Safe Harbor 401(k) Plan · plan year 2024
$192,063,597
1,205 participants with a balance. This filing reports no recordkeeping fee and no administrative expenses excluding investment management, so there is no headline cost figure.
Source
Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250729161443NAL0003628961001, received 2025-07-29
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250729161443NAL0003628961001, received 2025-07-29
Percentiles compare this plan with the Schedule H plans $50 to 250M in assets of the same plan year, excluding final filings; shown only where at least 50 comparable plans report the figure. Plan year 2024-01-01 to 2024-12-31, filing received 2025-07-29.
Cost and contributions
Administrative expenses excluding investment management, per participant
$0.00
Fewer than 50 comparable plans report this figure; no percentile.
Source
= $0 / 1,205
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250729161443NAL0003628961001, received 2025-07-29
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250729161443NAL0003628961001, received 2025-07-29
Administrative expenses per participant
$20.07
Higher than 7% of the 9,042 plans $50 to 250M that report it.
Source
= $24,181 / 1,205
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250729161443NAL0003628961001, received 2025-07-29
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250729161443NAL0003628961001, received 2025-07-29
Administrative expenses as a share of assets
0.013%
Higher than 6% of the 9,049 plans $50 to 250M that report it.
Source
= $24,181 / $192,063,597
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250729161443NAL0003628961001, received 2025-07-29
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250729161443NAL0003628961001, received 2025-07-29
Employer contributions per participant
$2,688
Higher than 49% of the 9,105 plans $50 to 250M that report it.
Source
= $3,239,200 / 1,205
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250729161443NAL0003628961001, received 2025-07-29
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250729161443NAL0003628961001, received 2025-07-29
Employer share of total contributions
26.4%
Higher than 39% of the 9,112 plans $50 to 250M that report it.
Source
= $3,239,200 / $12,255,916
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250729161443NAL0003628961001, received 2025-07-29
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250729161443NAL0003628961001, received 2025-07-29
Plan terms, as stated in Alerus Financial Corporation's SEC filings
Plan terms are described in Alerus Financial Corporation's SEC filings: Form 10-K filed 2026-03-04. No term could be quoted from them with the required precision.
Plan features
2G fully participant-directed · 2J 401(k) feature · 2R participant brokerage window · 3D IRS pre-approved plan · Form 5500, line 8a; TYPE_PENSION_BNFT_CODE pos 81; filing 20250729161443NAL0003628961001, received 2025-07-29
Full record, Alerus Financial Corporation Safe Harbor 401(k) Plan
| Field | Value | Source |
|---|---|---|
| Plan sponsor | ALERUS FINANCIAL | Form 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20250729161443NAL0003628961001, received 2025-07-29 |
| Plan name | ALERUS FINANCIAL CORPORATION SAFE HARBOR 401K PLAN | Form 5500, line 1a; PLAN_NAME pos 16; filing 20250729161443NAL0003628961001, received 2025-07-29 |
| Sponsor EIN / plan number | 45-0375407 / 003 | Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20250729161443NAL0003628961001, received 2025-07-29 |
| Plan type | single-employer | Form 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20250729161443NAL0003628961001, received 2025-07-29 |
| Sponsor location | GRAND FORKS, ND | Form 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20250729161443NAL0003628961001, received 2025-07-29 |
| Industry (business code) | 522110, Finance and insurance | Form 5500, line 2d; BUSINESS_CODE pos 46; filing 20250729161443NAL0003628961001, received 2025-07-29 |
| Plan year | 2024-01-01 to 2024-12-31 | Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20250729161443NAL0003628961001, received 2025-07-29 |
| Filing received | 2025-07-29 | Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20250729161443NAL0003628961001, received 2025-07-29 |
| Final filing | no | Form 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20250729161443NAL0003628961001, received 2025-07-29 |
| Amended filing | no | Form 5500, Part I line B; AMENDED_IND pos 7; filing 20250729161443NAL0003628961001, received 2025-07-29 |
| Participants, beginning of year | 1,113 | Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20250729161443NAL0003628961001, received 2025-07-29 |
| Active participants | 864 | Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20250729161443NAL0003628961001, received 2025-07-29 |
| Participants, end of year | 1,241 | Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20250729161443NAL0003628961001, received 2025-07-29 |
| Participants with an account balance | 1,205 | Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250729161443NAL0003628961001, received 2025-07-29 |
| Total assets, beginning of year | $170,141,037 | Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20250729161443NAL0003628961001, received 2025-07-29 |
| Total assets, end of year | $192,063,597 | Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250729161443NAL0003628961001, received 2025-07-29 |
| Net assets, end of year | $190,994,028 | Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20250729161443NAL0003628961001, received 2025-07-29 |
| Total income | $37,479,490 | Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20250729161443NAL0003628961001, received 2025-07-29 |
| Net income | $21,355,279 | Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20250729161443NAL0003628961001, received 2025-07-29 |
| Employer contributions | $3,239,200 | Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250729161443NAL0003628961001, received 2025-07-29 |
| Participant contributions | $6,627,966 | Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20250729161443NAL0003628961001, received 2025-07-29 |
| Other contributions (incl. rollovers) | $2,388,750 | Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20250729161443NAL0003628961001, received 2025-07-29 |
| Total contributions | $12,255,916 | Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250729161443NAL0003628961001, received 2025-07-29 |
| Benefit payments | $16,036,460 | Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20250729161443NAL0003628961001, received 2025-07-29 |
| Total expenses (incl. benefit payments) | $16,124,211 | Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20250729161443NAL0003628961001, received 2025-07-29 |
| Total administrative expenses | $24,181 | Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250729161443NAL0003628961001, received 2025-07-29 |
| Investment advisory and management fees | $24,181 | Schedule H, line 2i(5); INVST_MGMT_FEES_AMT pos 107; filing 20250729161443NAL0003628961001, received 2025-07-29 |
| Administrative expenses excluding investment management | $0 | derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250729161443NAL0003628961001, received 2025-07-29 |
| Held in common/collective trusts | $38,548,532 | Schedule H, line 1c(9) col (b); INT_COMMON_TR_EOY_AMT pos 51; filing 20250729161443NAL0003628961001, received 2025-07-29 |
| Held in mutual funds | $139,920,965 | Schedule H, line 1c(13) col (b); INT_REG_INVST_CO_EOY_AMT pos 55; filing 20250729161443NAL0003628961001, received 2025-07-29 |
| Independent auditor | EIDE BAILLY LLP | Schedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20250729161443NAL0003628961001, received 2025-07-29 |
Position = column in the DOL layout for form year 2024. Filing 20250729161443NAL0003628961001, received 2025-07-29.
Service providers paid directly by the plan
No Schedule C line 2 providers are listed on this filing.
Schedule C Part I line 2: name (a), service codes (b), relationship (c), direct compensation paid by the plan (d), indirect compensation received (e). Filing 20250729161443NAL0003628961001, received 2025-07-29.
What changed since the 2023 plan year
| Figure | 2023 | 2024 | Change |
|---|---|---|---|
| Total assets | $170,141,037 | $192,063,597 | 12.9% |
| Participants with a balance | 1,070 | 1,205 | 12.6% |
| Administrative expenses | $26,254 | $24,181 | -7.9% |
| Recordkeeping fees per participant | not reported | not reported | |
| Employer contributions | $2,920,359 | $3,239,200 | 10.9% |
Prior filing 20240722104220NAL0017311792005, received 2024-07-22; the plan years are contiguous.
Alerts, claims and corrections
Sponsor name as filed: ALERUS FINANCIAL; SEC registrant: ALERUS FINANCIAL CORP (CIK 903419, matched by EIN; display name from the Form 10-K cover).