Helping employees achieve retirement security.

A 401(k) plan is an employer sponsored, qualified retirement plan that allows participants to save and invest for their own retirement on a tax deferred basis. Alerus’ experience in consulting and plan design allows us to help you set up the best plan for each company.

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  • Allows participants to make deferrals through payroll deductions and direct the investment of their contributions.
  • Employee contributions are always 100% vested and can be made in the form of pre-tax or Roth contributions, depending on plan design.
  • A match or a profit sharing feature may be added to the plan and can be made subject to a vesting schedule for the company portion of the account.
  • The plan sponsor may limit eligibility for the plan.