Helping participants achieve successful retirement.

Profit sharing plans can be a key factor in employee motivation, retention, and satisfaction. Alerus consultants can help determine the best profit sharing arrangement to meet the goals of each employer.

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Profit sharing plans are defined contribution plans that allow employers to make contributions on behalf of their participants.

  • All contributions to the plan and investment earnings compound tax-deferred until withdrawn at retirement.
  • Plan sponsors are not required to make a contribution to the plan.
  • Contributions to the plan are discretionary, which allows the employer to increase or decrease contributions based on company performance. The employer also has the option not to contribute during a particular plan year.
  • Contributions are deductible on the employer’s Federal income tax return.