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Texas State Bank can serve as Trustee or Custodian of an IRS tax-qualified retirement plan or an Individual Retirement Account (IRA).
Qualified Plan
Texas State Bank sponsors prototype pension, profit sharing, money purchase and 401(k) plans that an employer can adopt. These plans offer deductibility of contributions to the employer and deferral of taxes for the employees. They aid an employer in recruiting and retaining employees.
IRA
An IRA can be established by an individual, or by an employer for the benefit of the employees. Distributions from a qualified plan can also be placed in a Rollover IRA.
401(k) Services for Businesses
Retirement Plan Specialists at Texas State Bank are experienced in helping businesses choose the tax-qualified retirement plan that meets their particular needs. We are knowledgeable in the complex laws and regulations that govern these plans and in the record keeping that is necessary for the plan to maintain its tax-qualified status.
Our Retirement Plan Specialists help develop investment strategies to meet your plan objectives and we work to ensure a smooth and effective operation.
Advantages to you as an employer for establishing a retirement plan:
- Attracting and retaining qualified personnel
- Tax savings
- Professional asset management
- Attractive way for you and your employees to prepare for a financially secure retirement
Participant education is crucial to a plan's success. Our experienced professionals meet with you and your employees to explain terminology and provide the information and assistance to make your plan a success.
The specialized knowledge of our staff is enhanced with the most current technology for efficient plan administration and record keeping. Every employee participant can review their 401(k) plan account as often as they like, at no charge…anytime, day or night by telephone or the Internet. Use either service to keep abreast of account transactions and fluctuations in value of investments.
Retirement plan services merit special attention. We can help you select a plan best suited to your specific needs.
For more information on our trust services, please stop by or call us at (800) 881-7635.
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