14 employees reported this benefit
The 401(k) Retirement Savings Plan offers an excellent opportunity for you to build a secure financial foundation for your future while reducing your current taxable income. When you contribute money to your 401(k) account, your money is deposited with pre-tax dollars, after-tax dollars (ROTH), or a combination of both. Pre-tax means you won’t pay federal or state income taxes on the funds, or the earnings they accrue, until the day you receive a distribution. After-tax means you pay taxes on your contributions at the time of the contribution. The 401(k) plan includes a company match that is deposited into your account alongside the contributions you make every paycheck.You are eligible to participate in the 401(k) retirement savings plan through Alerus on the first day of the month following your one month anniversary with the company. Company matching eligibility is one year of employment.
50% match up to the first 6% of employee's contribution. 4-year vesting schedule.
It was standard with some level of match.
Average. Nothing special about it.
Easy to use and they mach 50% of my contribution up to 3% of my income.