Bank Forward 401(k) match, vesting and fees
What Bank Forward's 401(k) plan says about matching contributions
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Recordkeeper | Principal Life Insurance Company | Schedule C ↗ |
| Independent auditor | Brady Martz & Associates, P.C. (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
How the plan compares
Plan year 2024 medians for 3,409 defined-contribution plans in finance and insurance with 100 to 499 participants.
| Bank Forward: employer contribution per participant | $2,348 | |
| Peer median | $2,868 |
| Bank Forward: average balance | $146,135 | |
| Peer median | $95,281 |
| Bank Forward: admin expenses ÷ assets | 0.18% | |
| Peer median | 0.22% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $30M at the end of plan year 2021 to $35.1M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 262 | $35.1M | $564K | $2,348 | 0.18% | Not published | Form 5500 ↗ |
| 2023 | 261 | $30.2M | $558K | $2,295 | 0.20% | Not published | Form 5500 ↗ |
| 2022 | 266 | $25M | $473K | $1,931 | 0.19% | Not published | Form 5500 ↗ |
| 2021 | 274 | $30M | $437K | $1,727 | 0.24% | Not published | Form 5500 ↗ |
Other Bank Forward plans (1)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
Bank Forward Employee Stock Ownership Plan
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Recordkeeper | Principal Financial Group | Schedule C ↗ |
| Independent auditor | Brady Martz, PLLC (unmodified opinion) | Schedule H ↗ |
| Plan type and status | Retirement · Active | Form 5500 ↗ |
Common questions
Does Bank Forward match 401(k) contributions?
The match terms for the Bank Forward 401k Plan and Trust have not been published from its filing yet. The plan year 2024 filing reports $564K in employer contributions, about $2,348 per participant. That total includes any match and profit-sharing; it is not a match formula.
When is the Bank Forward 401(k) match vested?
The vesting schedule for the Bank Forward 401k Plan and Trust is not in the data published so far. Your Summary Plan Description states it.
Who manages the Bank Forward 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Principal Life Insurance Company. The plan administrator is Bank Forward.
I left Bank Forward. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Bank Forward, (701) 293-9540) or the recordkeeper, Principal Life Insurance Company. The Bank Forward old 401(k) page lists the contacts from every plan filing. Find an old Bank Forward 401(k)
Data from the public Form 5500 annual reports Bank Forward filed with the U.S. Department of Labor (plan years 2021 and 2022 and 2023 and 2024 and 2025) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with Bank Forward. Not financial advice. Report a correction · Methodology