Financial Business Systems 401(k) match, vesting and fees
What Financial Business Systems' 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 | Alerus Financial, N.A. | Schedule C ↗ |
| Independent auditor | Eide Bailly LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
How the plan compares
Plan year 2024 medians for 1,508 defined-contribution plans in information with 100 to 499 participants.
| Financial Business Systems: employer contribution per participant | $2,554 | |
| Peer median | $2,188 |
| Financial Business Systems: average balance | $163,679 | |
| Peer median | $63,883 |
| Financial Business Systems: admin expenses ÷ assets | 0.11% | |
| Peer median | 0.27% |
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 $16.1M at the end of plan year 2021 to $19.2M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 135 | $19.2M | $299K | $2,554 | 0.11% | Not published | Form 5500 ↗ |
| 2023 | 137 | $16.2M | $285K | $2,316 | 0.19% | Not published | Form 5500 ↗ |
| 2022 | 128 | $12.8M | $295K | $2,526 | 0.19% | Not published | Form 5500 ↗ |
| 2021 | 123 | $16.1M | $278K | $2,340 | 0.20% | Not published | Form 5500 ↗ |
Other Financial Business Systems plans (1)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
Financial Business Systems, Inc. 2013 Amended and Restated 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.
| Independent auditor | Eide Bailly LLP (unmodified opinion) | Schedule H ↗ |
| Plan type and status | Retirement · Active | Form 5500 ↗ |
Common questions
Does Financial Business Systems match 401(k) contributions?
The match terms for the Financial Business Systems, Inc. 401(k) Plan have not been published from its filing yet. The plan year 2024 filing reports $299K in employer contributions, about $2,554 per participant. That total includes any match and profit-sharing; it is not a match formula.
When is the Financial Business Systems 401(k) match vested?
The vesting schedule for the Financial Business Systems, Inc. 401(k) Plan is not in the data published so far. Your Summary Plan Description states it.
Who manages the Financial Business Systems 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Alerus Financial, N.A.. The plan administrator is Financial Business Systems, Inc..
I left Financial Business Systems. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Financial Business Systems, Inc., (701) 235-7300) or the recordkeeper, Alerus Financial, N.A.. The Financial Business Systems old 401(k) page lists the contacts from every plan filing. Find an old Financial Business Systems 401(k)
Data from the public Form 5500 annual reports Financial Business Systems 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 Financial Business Systems. Not financial advice. Report a correction · Methodology