Plan Snapshot
- Plan Sponsor: First Premier Bank
- Sponsor EIN: 460119480
- Sponsor Address: 500 SOUTH MINNESOTA AVENUE, SIOUX FALLS, SD, 57104
- Plan Type: 401(k)
- Total Participants: 1,625
- Total Assets: $240.6M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- 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 | 1,625 | $240.6M | $6.2M | $11.9M |
| 2023 | 1,807 | $216.0M | $6.3M | $11.7M |
| 2022 | 1,894 | $183.9M | $5.9M | $10.9M |
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 |
|---|---|---|---|---|
| ELO PROF, LLC | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- ELO PROF, LLC — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $0
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 | $435,329 | $217,433 | — | — | — |
| 2023 | $421,280 | $193,159 | — | — | — |
| 2022 | $219,990 | $199,870 | $19,520 | — | $600 |