The Profit Sharing Plan of Premier Bank
ERISA Form 5500 plan record drawn from DOL EBSA — verify with linked source filings below.
Sponsored by Premier Bank · Minnesota · Finance & Insurance
What the 2023 filing shows
The Profit Sharing Plan of Premier Bank holds N/A for 129 participants.
- N/A
- total plan assets (2022 EOY)
- 129
- covered participants
- $-2,738,386
- reported net income
The plan reported a net loss of $3M for the year — a single-year figure driven by markets and benefit payments, not a measure of plan health.
What the Filing Says About The Profit Sharing Plan of Premier Bank
The Profit Sharing Plan of Premier Bank is a 401(k) retirement plan sponsored by Premier Bank, headquartered in Minnesota. As of the 2022 Form 5500 filing, the plan reports N/A in total end-of-year assets and covers 129 participants across the Finance & Insurance industry. The sponsor's EIN on file with the U.S. Department of Labor is 411233917, and the plan has been effective since 1981-01-01. Its filing status is currently FILING RECEIVED.
Year over year, total assets moved from $14M at the beginning of 2022 to N/A at year-end. Net assets (after liabilities) closed the year at N/A, with reported net income of $-2,738,386 driven by investment returns, contributions received, and benefit payments during the period. These figures reflect what the plan administrator certified on Schedule H or Schedule I of the Form 5500 annual return.
Asset totals and participant counts reflect a single plan year snapshot and can change materially with market conditions, plan mergers, or workforce changes. Fields such as "net income" include both realized investment performance and contribution/distribution flows — a single-year figure does not by itself indicate plan health or participant outcomes. This page summarizes public DOL disclosures for research and educational purposes only and is not retirement, tax, legal, or financial advice. Before making decisions about your own retirement benefits or evaluating an employer's plan, verify the underlying filing directly via the DOL EFAST2 system and consult a qualified professional.
Financial Summary (2023)
| Total Assets (Beginning of Year) | $14M |
| Total Assets (End of Year) | N/A |
| Net Assets (End of Year) | N/A |
| Net Income | $-2,738,386 |
| Plan Type | 401(k) |
| Employer EIN | 411233917 |
| Plan Effective Date | 1981-01-01 |
| Filing Status | FILING RECEIVED |
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Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2022.
Source: DOL EFAST2 filing system (efast.dol.gov) — original filing retrieval by EIN 411233917.
Reference: IRS Publication 560 — Retirement Plans for Small Business, contribution-limit rules.
Reference: IRS Publication 590-B — Distributions from IRAs, RMD rules under SECURE Act 2.0.
Read our methodology — how this data is sourced, computed, and verified.