401(k) · DOL Form 5500 · 2024

Alerus Financial 401(k) Plan

Data updated 2026-08-11

$192M
Total assets: 729
Participants: 94th
Percentile by assets: $263,462
Avg per participant

Official DOL plan name: Alerus Financial Corporation Safe Harbor 401(k) Plan · Sponsored by Alerus Financial · North Dakota · Finance & Insurance

$192M in assets, 729 participants

Alerus Financial's Alerus Financial Corporation Safe Harbor 401(k) Plan reported $192M in total assets and 729 participants in its 2024 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.

94th percentile by assets (of 123,622 plans)
#7,749 in Finance & Insurance (8,549 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, $192M for 729 participants (~$263,462/participant), up 12.9% in 2024.

$192M
total plan assets (2024 EOY): 729
covered participants: 94th
percentile by assets (of 123,622 plans): $263,462
avg assets per participant

Alerus Financial Corporation Safe Harbor 401(k) Plan reported net income rose from $18M in the plan year 2023 filing to $21M in the plan year 2024 filing.
Alerus Financial Corporation Safe Harbor 401(k) Plan end-of-year assets rose from $170M in the plan year 2023 filing to $192M in the plan year 2024 filing.
Alerus Financial Corporation Safe Harbor 401(k) Plan reported participants fell from 806 in the plan year 2023 filing to 729 in the plan year 2024 filing.

See the national 2023→2024 release diff →

State

North Dakota

Industry

Finance & Insurance

Alerus Financial Corporation Safe Harbor 401(k) Plan vs the 2024 asset distribution

By assets, Alerus Financial Corporation Safe Harbor 401(k) Plan outranks 94% of the 123,622 plans that filed a Form 5500 for the 2024 plan year, and holds roughly 1.9x the national average plan size of $100M (721 average participants).

Scale-class filing particulars (2024)

Total Assets (Beginning of Year)	$170M
Net Assets (End of Year)	$191M
Net Income	$21M
Employer EIN	450375407
Plan Effective Date	1989-01-01
Filing Status	FILING RECEIVED

Sponsor Plan History (Alerus Financial)

Total plan assets by year, all Alerus Financial plans on file

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

Sanford Retirement Savings Plan $3.6B · 31,958
Knife River Corporation 401(k) Retirement Plan $856M · 5,327
Mdu Resources Group, Inc. 401(k) Retirement Plan $776M · 3,465
Eide Bailly LLP 401(k) Profit Sharing Plan $615M · 2,920
Offutt Companies 401(k) Savings Plan $592M · 5,199

Compare Alerus Financial Corporation Safe Harbor… side-by-side with 3 peers →

Similar-Sized 401(k) Plans Nationally

401(k) plans in other states closest to Alerus Financial Corporation Safe Harbor 401(k) Plan by total assets, not by location.

Advanced Radiology Services, P. C. 401(k) Profit-Sharing Plan (MI) $192M · 396
The 401(k) Plan (NY) $192M · 1,970
Glazer's, Inc. Profit Sharing Plan and Trust (TX) $192M · 1,945
Interface, Inc. Savings and Investment Plan (GA) $192M · 1,554

Frequently Asked Questions

How did Alerus Financial Corporation Safe Harbor 401(k) Plan assets move in 2024? ▼

Alerus Financial Corporation Safe Harbor 401(k) Plan grew at a solid clip - up 12.9% during 2024, from $170M to $192M. Reported net income was $21M.

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 123,622 plans that reported assets for plan year 2024 (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 Advanced Radiology Services, P. C. 401(k) Profit-Sharing Plan in MI ($192M, 396 participants).

Next read for Alerus Financial Corporation Safe Harbor…

Scale reading

Ways to act on Alerus Financial Corporation Safe Harbor 401(k) Plan's numbers.

By total assets, Alerus Financial Corporation Safe Harbor 401(k) Plan ranks in the top 10% of all filed plans by assets. See the largest plans
Compare it side-by-side against 3 similar 401(k) plans in North Dakota. Compare plans
Alerus Financial's sponsor-wide assets have grown 18.5% since 2022 across 3 plan years on file. More Finance & Insurance plans

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2024.

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