Business Retirement: How We Help

A retirement plan has the power to help improve both employee job satisfaction and productivity. And since a tax-qualified retirement plan can give both your business and your employees advantages, everybody wins. Depending on the type of plan chosen and your business situation, here are some benefits that may be available:

Matching and non-elective contributions can earn a tax deduction.

A special three-year tax credit is available to qualified small employers that set up a new plan.

Employees have an easy option that can help build a nest egg for their future retirement.

Participating employees can enjoy a double-benefit—tax-deferred contributions coupled with potential earnings on those contributions.

Even if your business doesn't have employees other than you and your spouse, you can start a business retirement plan for you and your spouse.

Custom built plans

We can help create a customized plan to meet your unique needs. In order to accomplish this, you will connect with a COUNTRY Trust Bank® plan specialist to discuss what you want your plan to accomplish. The best part? We handle a lot of the details when it comes to creating a retirement plan for your employees that best fits your business.

Government reporting

Another way we will shorten your “to do” list, is by handling your required filings each year with the IRS and the Department of Labor. Let our expertise as a bundled service provider work for you and we can assist in preparing required governmental filings on your behalf.

Compliance

Keeping your plan compliant can feel overwhelming. We strive to make it easy for you. We can assume the role of “trustee” on your behalf, giving you an added layer of protection from the Department of Labor and the IRS.

Recordkeeping

We can also eliminate the hassle of keeping track of participant activities. Here are some of the recordkeeping duties we can take off your plate: daily valuation, distribution (1099-R) reporting, detailed participant statements, qualified domestic relations orders assistance, contribution allocations, and required minimum distributions.

Designed with you in mind

Tax law changes have helped level the playing field by making it easier than ever for more businesses to offer this valuable employee benefit. So whether you’re ready to start a new 401(k) or find a new service provider for your existing 401(k), we’re here to help you every step of the way. We can help you build and maintain an easy, affordable, and flexible plan designed specifically for your business.

Initial screening

We use industry databases to find funds that warrant a closer look. Then, we look at the expense ratio, long-term returns, management team tenure, and management’s dedication to its shareholders.

Analysis

While past performance doesn’t guarantee future results, we still can’t ignore it. So, we will look at consistent performers.

Monitoring and review

After a fund passes our rigorous test and is added to our investment options list, we keep a close eye on it to make sure we want to keep it. Each quarter, our investment team reviews the funds on the list.

Professionals you can trust

As part of COUNTRY Financial® in Bloomington, IL, COUNTRY Trust Bank® has been administering retirement plans for businesses like yours since 1971. In that time, we’ve grown from $650 million in assets under management to a multi-billion dollar investment management, retirement, trust, and planning services provider.

That’s testimony to the confidence our customers place in us. We recognize our impressive growth is a result of giving people what they want and treating them the way they want to be treated. We’d like to include you among our many satisfied clients.

From helping you create a plan that meets your company’s unique needs to due diligence in recommending the right investments for your participants, to assisting to keep your plan compliant, our focus remains on you and your needs.

In the end, it means you can continue to concentrate on what you do best – running your business – knowing that many details of your retirement plan are being handled by professionals. We’re with you every step of the way.