# Bank Forward 401(k) Plan
Source: https://planprovider.pro/companies/bank-forward-401k-plan

> Bank Forward's 401(k) plan: 234 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Bank Forward

- **Sponsor EIN:** 450192700

- **Sponsor Address:** 5651 38TH AVE S, FARGO, ND, 58104

- **Plan Type:** 401(k)

- **Total Participants:** 234

- **Total Assets:** $35.1M

## Key Plan Design Features

- **Auto-Enrollment:** Yes

- **Auto-Escalation:** No

- **Allows Roth Contributions:** No

- **Participant Loans:** No

- **Participant-Directed Investments:** Yes

- **ERISA Section 404(c) Fiduciary Safe Harbor:** Yes

## Plan Financials by Year

| Year|Participants|Total Assets|Employer Contrib.|Employee Contrib.|

| 2024|234|$35.1M|$563,542|$1.8M|

| 2023|227|$30.2M|$557,613|$1.7M|

| 2022|228|$25.0M|$473,055|$1.5M|

## Service Providers (Schedule C)

Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).

| Provider Name|
Role|
Direct Compensation|
Indirect Compensation|
Total Fees|

| PRINCIPAL LIFE INSURANCE COMPANY|CONTRACT ADMINISTRATOR|$58,085|—|$58,085|

| BRADY MARTZ & ASSOCIATES, P.C.|Auditor|—|—|$0|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [BRADY MARTZ & ASSOCIATES, P.C.](https://planprovider.pro/provider/brady-martz-and-associates-pc) — Auditor

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $58,085

- **Estimated Expense Ratio:** 0.166% of plan assets

### Historical Administrative Expenses

Breakdown of administrative expense categories reported on Form 5500 filings.

| Year|
Total Admin Expenses|
Investment Mgmt Fees|
Contract Admin Fees|
IQPA Audit Fees|
Professional Fees|

| 2024|$58,086|—|$58,086|—|—|

| 2023|$54,243|—|$54,243|—|—|

| 2022|$51,265|—|$51,265|—|—|

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