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THE BANK OF ELK RIVER 401(K) PLAN 401k Plan overview

Plan NameTHE BANK OF ELK RIVER 401(K) PLAN
Plan identification number 002

THE BANK OF ELK RIVER 401(K) PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Profit-sharing
  • ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
  • Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
  • Code section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contribtions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • Master plan - A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.

401k Sponsoring company profile

THE BANK OF ELK RIVER has sponsored the creation of one or more 401k plans.

Company Name:THE BANK OF ELK RIVER
Employer identification number (EIN):410138420
NAIC Classification:522110
NAIC Description:Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE BANK OF ELK RIVER 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022023-01-01CHERYL DEHMER2024-07-08
0022022-01-01CHERYL DEHMER2023-07-18
0022021-01-01CHERYL DEHMER2022-07-28
0022020-01-01CHERYL DEHMER2021-09-13
0022019-01-01CHERYL DEHMER2020-06-26 CHERYL DEHMER2020-06-26
0022018-01-01CHERYL DEHMER2019-06-27 CHERYL DEHMER2019-06-27
0022017-01-01CHERYL A. DEHMER2018-07-10
0022016-01-01CHERYL A. DEHMER2017-07-14
0022015-01-01CHERYL A. DEHMER2016-06-21
0022014-01-01CHERYL A. DEHMER2015-07-21
0022013-01-01CHERYL DEHMER2014-07-17
0022012-08-01CHERYL A. DEHMER2013-07-18

Financial Data on THE BANK OF ELK RIVER 401(K) PLAN

Measure Date Value
2025 : THE BANK OF ELK RIVER 401(K) PLAN 2025 401k financial data
Total expenses incurred by plan in this plan year2025-07-23647844
Net assets as of the end of the plan year2025-07-236905581
Total assets as of the beginning of the plan year2025-07-235750473
Value of plan covered by a fidelity bond2025-07-237000000
Participant contributions to plan in this plan year2025-07-23579731
Value of participant loans at end of plan year2025-07-2399300
Other contributions to plan in this plan year2025-07-23154053
Other income to plan in this plan year2025-07-23798093
Plan net income in this plan year2025-07-231155108
Net assets as of the end of the plan year2025-07-236905581
Net assets as of the beginning of the plan year2025-07-235750473
Employer contributions to plan in this plan year2025-07-23271075
Expensese paid to adminstrative service provicers from plan in this plan year2025-07-2311644
2024 : THE BANK OF ELK RIVER 401(K) PLAN 2024 401k financial data
Total expenses incurred by plan in this plan year2024-07-08974780
Net assets as of the end of the plan year2024-07-085750473
Total assets as of the beginning of the plan year2024-07-084748938
Value of plan covered by a fidelity bond2024-07-087000000
Participant contributions to plan in this plan year2024-07-08536876
Value of participant loans at end of plan year2024-07-0866949
Other contributions to plan in this plan year2024-07-08324479
Other income to plan in this plan year2024-07-08847269
Plan net income in this plan year2024-07-081001535
Net assets as of the end of the plan year2024-07-085750473
Net assets as of the beginning of the plan year2024-07-084748938
Employer contributions to plan in this plan year2024-07-08267691
Expensese paid to adminstrative service provicers from plan in this plan year2024-07-089658
2022 : THE BANK OF ELK RIVER 401(K) PLAN 2022 401k financial data
Total expenses incurred by plan in this plan year2022-07-2818178
Net assets as of the end of the plan year2022-07-284821409
Total assets as of the beginning of the plan year2022-07-283386646
Value of plan covered by a fidelity bond2022-07-287000000
Participant contributions to plan in this plan year2022-07-28552157
Value of participant loans at end of plan year2022-07-2833580
Other expenses paid from plan in this plan year2022-07-285421
Other contributions to plan in this plan year2022-07-28103512
Other income to plan in this plan year2022-07-28545958
Plan net income in this plan year2022-07-281434763
Net assets as of the end of the plan year2022-07-284821409
Net assets as of the beginning of the plan year2022-07-283386646
Employer contributions to plan in this plan year2022-07-28251314

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