Plan Snapshot
- Plan Sponsor: Bank Forward
- Sponsor EIN: 450192700
- Sponsor Address: 5651 38TH AVE. S., FARGO, ND, 58104
- Plan Type: DC
- Total Participants: 194
- Total Assets: $47.1M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 194 | $47.1M | $1.3M | $0 |
| 2023 | 192 | $41.7M | $1.6M | $0 |
| 2022 | 192 | $35.3M | $1.4M | $0 |
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 FINANCIAL | RECORDKEEPER/BOOKKEEPER | $20,136 | — | $20,136 |
| EIDE BAILLY | CONSULTANT | $12,915 | — | $12,915 |
| WIDMER ROEL | ACCOUNTANT | $10,800 | — | $10,800 |
| BALLARD SPAHR | LEGAL | $7,889 | — | $7,889 |
| BRADY MARTS & ASSOCIATES, P.C. | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- WIDMER ROEL — ACCOUNTANT
- BALLARD SPAHR — LEGAL
- BRADY MARTS & ASSOCIATES, P.C. — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $51,740
- Estimated Expense Ratio: 0.110% 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 | $61,708 | $37,331 | — | — | — |
| 2023 | $52,224 | $9,500 | $15,913 | — | — |
| 2022 | $52,732 | $9,400 | $17,604 | — | $25,728 |