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ASB&T Covid-19 Updates

Retirement Plans

American State Bank & Trust has a great deal of experience with setting up retirement plans for business owners and administering them. Employers may receive a tax benefit for establishing a retirement plan and employers and employees receive tax benefits for contributing to a retirement plan. Retirement plans are an excellent tool to attract and maintain employees.

We are knowledgeable about IRS and DOL rules, laws, and regulations and will help you to ensure that your plan is always in compliance. We conduct required annual compliance testing and prepare and file the annual tax return required for your retirement plan.

Whether you are the only employee or if you have hundreds of employees, we can establish a retirement plan that fits your needs. If you already have a retirement plan elsewhere, we can transfer it here to have it administered locally.

We can work with your employees to enroll them in the plan. Participants may contact us with any question, whether it’s how the plan works or just for their balance in the plan. We are available for face to face meetings with participants anytime and we are always available by call or email as well. Additionally, we can set up times where we come to your business to meet with employees.

We provide online account access to employers and participants. Quarterly statements are provided that show balances, investment performance, and projections of how much the participant may have for a balance and monthly distribution amounts when they retire.

Jeramy Hansen is a Certified Retirement Plan Professional (CRPP) and a Certified Retirement Services Professional (CRSP).