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.
- 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.