Help your employees invest in their futures.
We offer customized, all-inclusive retirement plan solutions. Our team of experienced professionals can help you with the resources you need to effectively manage your retirement plan.
Whether starting a new plan for your employees or moving your existing plan to Alerus, we make the process simple and streamlined.
With My Alerus, employees have a personalized financial wellness hub that allows them to integrate all of their financial accounts. Alerus provides materials to promote financial health topics like debt management, budgeting, investment guidance, college savings, and retirement planning.
An ESOP is a unique benefit designed to give your employees a vested interest in the success of your company. Alerus provides an experienced team of professionals to handle the complexities of your ESOP plan administration.
A defined contribution plan is a retirement plan where employees and employers contribute money into an individual account for the employee. The contributions are then invested, and the account’s value changes based on the contributions, investment performance, and gains or losses. When the employee retires, the account is used to provide retirement benefits, such as an annuity that pays a regular income.
401(k) plans are employer-sponsored, defined-contribution, personal pension accounts, as defined in subsection 401(k) of the U.S. Internal Revenue Code. Periodic employee contributions come directly out of their paychecks, and may be matched by the employer.
A simplified employee pension (SEP) plan is a retirement plan that allows business owners to contribute to their employees’ and their own retirement savings. SEP plans are considered low-cost and easy to set up, and they can be established by sole proprietorships, partnerships, and corporations.
A pooled employer plan (PEP) is a type of 401(k) retirement plan that allows unrelated businesses to pool resources and share a single plan. The goal of a PEP is to reduce administrative burdens for employers, allowing them to focus more on running their business.
Profit sharing plans and stock bonus plans are defined contribution plans that allow employers to distribute a portion of a company’s profits to employees. The plans can be structured in a variety of ways, including cash plans, deferred plans, and stock plans. They can also be operated as a separate account or as a provision added to a 401(k) plan.
Employee stock ownership plans (ESOPs) are retirement benefit plans that allow employees to own part or all of the company they work for. ESOPs are funded by tax-deductible contributions from the employer, which can be in the form of company stock or cash. The plan operates through a trust, which is directed by a trustee or other fiduciary.
