Recordkeeping fees per participant
not reported
Not reported on this filing.
Employers › Forstrom Bancorporation
Forstrom Bancorporation 401(k)
- Finance and insurance
- Clara City, MN
- EIN 41-1452688
- 1 plan with Schedule H financials
- Plan year 2024
- Forstrom Bancorporation, Inc.
- filed as Forstrom Bancorporation Inc.
Administrative expenses excluding investment management, per participant · Forstrom Bancorporation 401(k) Plan and Trust · plan year 2024
$232.58
Higher than 79% of the 24,371 plans $10 to 50M that report it.
Source
= $59,772 / 257
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20251014113553NAL0003811376001, received 2025-10-14
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251014113553NAL0003811376001, received 2025-10-14
Percentiles compare this plan with the Schedule H plans $10 to 50M 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 2025-10-14.
Cost and contributions
Administrative expenses per participant
$232.58
Higher than 58% of the 25,098 plans $10 to 50M that report it.
Source
= $59,772 / 257
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251014113553NAL0003811376001, received 2025-10-14
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251014113553NAL0003811376001, received 2025-10-14
Administrative expenses as a share of assets
0.362%
Higher than 63% of the 25,132 plans $10 to 50M that report it.
Source
= $59,772 / $16,521,536
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251014113553NAL0003811376001, received 2025-10-14
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20251014113553NAL0003811376001, received 2025-10-14
Employer contributions per participant
$1,717
Higher than 39% of the 24,050 plans $10 to 50M that report it.
Source
= $441,161 / 257
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251014113553NAL0003811376001, received 2025-10-14
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251014113553NAL0003811376001, received 2025-10-14
Employer share of total contributions
28.5%
Higher than 52% of the 24,084 plans $10 to 50M that report it.
Source
= $441,161 / $1,547,019
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251014113553NAL0003811376001, received 2025-10-14
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20251014113553NAL0003811376001, received 2025-10-14
Plan terms, as stated in Forstrom Bancorporation, Inc.'s SEC filings
Plan terms are not published in public filings.
Plan features
2E profit-sharing · 2F ERISA 404(c) plan · 2G fully participant-directed · 2J 401(k) feature · 2K 401(m) arrangement · 2T default investment (QDIA) · 3D IRS pre-approved plan · Form 5500, line 8a; TYPE_PENSION_BNFT_CODE pos 81; filing 20251014113553NAL0003811376001, received 2025-10-14
Full record, Forstrom Bancorporation 401(k) Plan and Trust
| Field | Value | Source |
|---|---|---|
| Plan sponsor | FORSTROM BANCORPORATION INC. | Form 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20251014113553NAL0003811376001, received 2025-10-14 |
| Plan name | FORSTROM BANCORPORATION 401(K) PLAN AND TRUST | Form 5500, line 1a; PLAN_NAME pos 16; filing 20251014113553NAL0003811376001, received 2025-10-14 |
| Sponsor EIN / plan number | 41-1452688 / 001 | Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20251014113553NAL0003811376001, received 2025-10-14 |
| Plan type | single-employer | Form 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20251014113553NAL0003811376001, received 2025-10-14 |
| Sponsor location | CLARA CITY, MN | Form 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20251014113553NAL0003811376001, received 2025-10-14 |
| Industry (business code) | 522110, Finance and insurance | Form 5500, line 2d; BUSINESS_CODE pos 46; filing 20251014113553NAL0003811376001, received 2025-10-14 |
| Plan year | 2024-01-01 to 2024-12-31 | Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20251014113553NAL0003811376001, received 2025-10-14 |
| Filing received | 2025-10-14 | Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20251014113553NAL0003811376001, received 2025-10-14 |
| Final filing | no | Form 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20251014113553NAL0003811376001, received 2025-10-14 |
| Amended filing | no | Form 5500, Part I line B; AMENDED_IND pos 7; filing 20251014113553NAL0003811376001, received 2025-10-14 |
| Participants, beginning of year | 262 | Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20251014113553NAL0003811376001, received 2025-10-14 |
| Active participants | 218 | Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20251014113553NAL0003811376001, received 2025-10-14 |
| Participants, end of year | 268 | Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20251014113553NAL0003811376001, received 2025-10-14 |
| Participants with an account balance | 257 | Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251014113553NAL0003811376001, received 2025-10-14 |
| Total assets, beginning of year | $14,256,858 | Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20251014113553NAL0003811376001, received 2025-10-14 |
| Total assets, end of year | $16,521,536 | Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20251014113553NAL0003811376001, received 2025-10-14 |
| Net assets, end of year | $16,521,536 | Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20251014113553NAL0003811376001, received 2025-10-14 |
| Total income | $3,285,152 | Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20251014113553NAL0003811376001, received 2025-10-14 |
| Net income | $2,264,678 | Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20251014113553NAL0003811376001, received 2025-10-14 |
| Employer contributions | $441,161 | Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251014113553NAL0003811376001, received 2025-10-14 |
| Participant contributions | $1,009,449 | Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20251014113553NAL0003811376001, received 2025-10-14 |
| Other contributions (incl. rollovers) | $96,409 | Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20251014113553NAL0003811376001, received 2025-10-14 |
| Total contributions | $1,547,019 | Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20251014113553NAL0003811376001, received 2025-10-14 |
| Benefit payments | $960,702 | Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20251014113553NAL0003811376001, received 2025-10-14 |
| Total expenses (incl. benefit payments) | $1,020,474 | Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20251014113553NAL0003811376001, received 2025-10-14 |
| Total administrative expenses | $59,772 | Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251014113553NAL0003811376001, received 2025-10-14 |
| Administrative expenses excluding investment management | $59,772 | derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20251014113553NAL0003811376001, received 2025-10-14 |
| Held in common/collective trusts | $183,971 | Schedule H, line 1c(9) col (b); INT_COMMON_TR_EOY_AMT pos 51; filing 20251014113553NAL0003811376001, received 2025-10-14 |
| Held in mutual funds | $13,868,083 | Schedule H, line 1c(13) col (b); INT_REG_INVST_CO_EOY_AMT pos 55; filing 20251014113553NAL0003811376001, received 2025-10-14 |
| Independent auditor | EIDE BAILLY LLP | Schedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20251014113553NAL0003811376001, received 2025-10-14 |
Position = column in the DOL layout for form year 2024. Filing 20251014113553NAL0003811376001, received 2025-10-14.
Service providers paid directly by the plan
| Provider | Relationship | Service codes | Direct compensation | Indirect |
|---|---|---|---|---|
| BENEFIT PLANS ADMIN SERVICES, INC.recordkeeper | NONE | 15 Recordkeeping and information management; 19 Custodial (securities); 59 Shareholder servicing fees; 60 Sub-transfer agency fees; 64 Recordkeeping fees; 10 Accounting (including auditing); 25 Trustee (directed) | $44,665 | yes |
| IMPACT RETIREMENT ADVISORS | NONE | 27 Investment advisory (plan); 31 Named fiduciary; 50 Direct payment from the plan | $14,388 | no |
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 20251014113553NAL0003811376001, received 2025-10-14.
What changed since the 2023 plan year
| Figure | 2023 | 2024 | Change |
|---|---|---|---|
| Total assets | $14,256,858 | $16,521,536 | 15.9% |
| Participants with a balance | 257 | 257 | 0.0% |
| Administrative expenses | $39,760 | $59,772 | 50.3% |
| Recordkeeping fees per participant | not reported | not reported | |
| Employer contributions | $399,924 | $441,161 | 10.3% |
Prior filing 20241015112224NAL0014474995001, received 2024-10-15; the plan years are contiguous.
Alerts, claims and corrections
Sponsor name as filed: FORSTROM BANCORPORATION INC.; SEC registrant: Forstrom Bancorporation, Inc. (CIK 1925103, matched by EIN).