401(k) · DOL Form 5500 · 2023

Alerus Financial 401(k) Plan

Data updated 2026-08-25

$170M
Total assets Near avg plan size
806
Participants Near avg headcount
94th
Percentile by assets National rank
$211,093
Avg per participant Above avg balance/head
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Official DOL plan name: Alerus Financial Corporation Safe Harbor 401(k) Plan · Sponsored by Alerus Financial · North Dakota · Finance & Insurance

$170M in assets, 806 participants

Alerus Financial's Alerus Financial Corporation Safe Harbor 401(k) Plan reported $170M in total assets and 806 participants in its 2023 DOL Form 5500 filing, ranking in the 94th percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

  • #8,038 in Finance & Insurance (8,869 peers)

Where Alerus Financial Corporation Safe Harbor 401(k) Plan sits by assets

Alerus Financial Corporation Safe Harbor 401(k) Plan sits in the top 10% of all filed plans by assets, $170M for 806 participants (~$211,093/participant), up 11.7% in 2023.

#8,038
in Finance & Insurance (8,869 peers)
+11.7%
assets growth YoY
1.7×
vs typical plan assets (national mean)

Alerus Financial Corporation Safe Harbor 401(k) Plan's outsized position by total assets

Alerus Financial Corporation Safe Harbor 401(k) Plan vs every filed plan by assets

End-of-year total assets · plan year 2023 · DOL Form 5500

$170,141,037 Top 6% higher than 94% of 127,068 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2023

Alerus Financial Corporation Safe Harbor 401(k) Plan among mid-size filed plans by headcount

Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Alerus Financial Corporation Safe Harbor 401(k) Plan sits mid-pack in the medium band (806 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Alerus Financial Corporation Safe Harbor 401(k) Plan reported net income rose from -$30M in the plan year 2022 filing to $18M in the plan year 2023 filing.
  • Alerus Financial Corporation Safe Harbor 401(k) Plan end-of-year assets rose from $152M in the plan year 2022 filing to $170M in the plan year 2023 filing.

See the national 2022→2023 release diff →

Form 5500 schedule snapshot

Filing strip 450375407 · Alerus Financial PY 2023 · 401(k)

Alerus Financial Corporation Safe Harbor 401(k) Plan · $170M · 806 · 94th

  • VS-ST $170M
  • VS-ST 806
  • VS-ST 94th
  • VS-ST 401(k)
  • VS-ST near Sps Commerce, Inc. 401(k) Retirement Savings Plan
  • VS-ST ind #8038

Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with Finance & Insurance retirement plans → · Plans in North Dakota →

Alerus Financial Corporation Safe Harbor 401(k) Plan in the asset neighbourhood

Sps Commerce, Inc. 401(k) Retirement Savings PlanSps Commerce, Inc. 401(k) Re…$170MAlerus Financial Corporation Safe Harbor 401(k) PlanAlerus Financial Corporation…$170MAtlas Roofing Corporation 401(k) Profit Sharing PlanAtlas Roofing Corporation 40…$170MSumitomo Electric Wiring Systems, Inc. 401(k) Retirement Savings PlanSumitomo Electric Wiring Sys…$170MCrown Cork & Seal Company, Inc. Retirement Thrift PlanCrown Cork & Seal Company, I…$170M
End-of-year total assets ($M) among Alerus Financial Corporation Safe Harbor 401(k) Plan and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2023.

Scale-class filing particulars (2023)

Total Assets (Beginning of Year)$152M
Net Assets (End of Year)$170M
Net Income$18M
Employer EIN450375407
Plan Effective Date1989-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Alerus Financial)

Sponsor-wide plan assets over time

All Alerus Financial plans reported in each filing year

Latest sponsor-wide plan assets
$216M 18.540059490641877% vs 2022
2024 filing year
$160M$180M$200M$220M 202220232024 $182M $216M ▲ +18.5%
Year Plans Participants Total Assets
2022 2 1,538 $182M
2023 2 1,487 $200M
2024 2 1,473 $216M

Nearby 401(k) Plans in North Dakota

Peer 401(k) plans, same state, same plan type, ranked by total assets.

Alerus Financial Corporation Safe Harbor 401(k) Plan vs. nearby 401(k) plans in North Dakota, assets vs. participants Scatter plot of 6 data points. -10000010000200003000040000 01234 Total assets ($B) Participants Alerus Financial Corporation Safe Harbor 401(k) Plan, Total assets ($B): 0.170141037 · Participants: 806Alerus Financial Corporation Safe Harbor 401(k) PlanSanford Retirement Savings Plan, Total assets ($B): 3.110361496 · Participants: 30495Sanford Retirement Savings PlanMdu Resources Group, Inc. 401(k) Retirement Plan, Total assets ($B): 0.829880488 · Participants: 8551Mdu Resources Group, Inc. 401(k) Retirement PlanKnife River Corporation 401(k) Retirement Plan, Total assets ($B): 0.7412361 · Participants: 5269Knife River Corporation 401(k) Retirement PlanDakotas Areawide IBEW-NECA Savings and Retirement Plan, Total assets ($B): 0.521170291 · Participants: 3853Dakotas Areawide IBEW-NECA Savings and Retirement PlanEide Bailly LLP 401(k) Profit Sharing Plan, Total assets ($B): 0.512524705 · Participants: 2920Eide Bailly LLP 401(k) Profit Sharing Plan
Alerus Financial Corporation Safe Harbor 401(k) Plan vs. nearby 401(k) plans in North Dakota, assets vs. participants
Compare Alerus Financial Corporation Safe Harbor 401(k) Plan side-by-side with 3 peers →

Alerus Financial Corporation Safe Harbor 401(k) Plan's out-of-state 401(k) peers by assets and headcount

Outside North Dakota, the nearest 401(k) by assets is Sps Commerce, Inc. 401(k) Retirement Savings Plan in MN ($170M); by covered participants it is Anser Advisory, LLC 401(k) Profit in FL (806 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (806 participants); asset peers above are excluded.

DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did Alerus Financial Corporation Safe Harbor 401(k) Plan assets move in 2023? ▼
Alerus Financial Corporation Safe Harbor 401(k) Plan grew at a solid clip - up 11.7% during 2023, from $152M to $170M. Reported net income was $18M.
How have Alerus Financial plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Alerus Financial's sponsor-wide assets grew 18.5%, from $182M to $216M.
Where does Alerus Financial Corporation Safe Harbor 401(k) Plan rank by assets among Form 5500 filers? ▼
Alerus Financial Corporation Safe Harbor 401(k) Plan ranks in the 94th percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (in the top 10% of all filed plans by assets).
Which 401(k) plans are similar in size to Alerus Financial Corporation Safe Harbor 401(k) Plan? ▼
Among 401(k) plans in other states, the closest by assets is Sps Commerce, Inc. 401(k) Retirement Savings Plan in MN ($170M, 1,708 participants).
Which 401(k) plans cover a similar participant headcount to Alerus Financial Corporation Safe Harbor 401(k) Plan? ▼
Among 401(k) plans in other states, the closest by covered participants is Anser Advisory, LLC 401(k) Profit in FL (806 participants, N/A in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2023.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 450375407.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.