Retirement Plan Administration
Our team of professionals can design a plan to meet the objectives of your company as well as the retirement goals of employees through investment management and education. Our Trust and Investment Department handles the administration, which includes a full range of recordkeeping, preparing all government required documents, reporting to participants and processing distributions, while keeping current with legal changes.
First PREMIER Bank offers many Retirement Plan Administration services, which include, but are not limited to:
Employee 401(k) Plan – Retirement savings account for employees that requires a plan document sponsored by a business. The employee makes deposits to the 401(k) account, which may be matched by their employer.
Profit Sharing Plan – Company retirement plan where the contributions are made from the profits of that company.
SEP (Simplified Employer Pension) Plan - A deductible IRA with contributions made by both employer and employee. Available to self-employed persons and employees of participating small companies.
Money Purchase Pension Plan – Company retirement plan with a fixed contribution amount made by the company.
ESOP (Employee Stock Ownership Plan) – A qualified plan which must meet several requirements and allows employees to receive company stock.
Contact us for more information.