Help employees build their retirement nest egg

The benefits of employee retirement plans are twofold. Many employees rely exclusively on their company to provide retirement plan options, and companies are discovering these long-term financial tools help attract and retain valued workers.

Our retirement plan experts can guide you through the many available options and help you determine the plan that best fits with your collective goals.

401(k)

Take advantage of our expertise

Employers of every size can enjoy the benefits of saving for retirement through this popular plan.

A 401(k) plan is a great way to reward your workforce, reduce your taxes today and save for a secure tomorrow. It allows employees to set aside part of their current taxable wages and build a tax-sheltered, retirement nest egg. The plan is funded with contributions made by both the employer and employee with the employer being responsible for the plan's assets. Employees may choose from a list of preferred investments and employers may match employee contributions on a paycheck basis or with regular profit sharing contributions. Restrictions apply for early withdrawal.

Advantages of adopting a 401(k) plan:

• Highly visible employee .
• Low maintenance cost.
• Increased ability to attract and retain quality employees.
• Easily designed to benefit all employees.
• Permits flexibility in the type and amount of employer contributions.

Brotherhood Bank & Trust offers state-of-the-art technology to administer this plan.

401(k) Account services include:

• Daily valuation record keeping and administration.
• Timely and accurate reporting.
• Complete range of flexible, market-driven investment options.
• Clear, effective employee communications and support.
• Toll-free telephone access for employees/participants.
• Participant accounting.
• Prompt payroll processing of partial distributions, fund transfers, and investment changes.
• Personal service from a trusted institution.

Tax-Qualified Plans

Share the wealth

Increase productivity by letting your employees share in the profitability of the business. At Brotherhood Bank & Trust we understand that no two businesses are exactly the same. That's why we approach each tax-qualified plan from the standpoint of what works best for you and your employees.

Profit Sharing

This plan is established and maintained by the employer and allows employees to share in company profits. Flexible or fixed employer contributions to these plans are made from company profits. Some plans allow companies to forego or limit its contribution for a particular year if the plan contains a discretionary formula.

Keogh

A retirement plan specifically designed for self-employed business owners.

Money Purchase Pension

Represents a fixed commitment by the employer to fund the plan.

Simplified Employee Pension (SEP)

This is a retirement plan allowing employers to directly fund employees' IRAs up to 15% of each eligible employee's compensation or $30,000 per employee. The tax-deductible amount for the employer can be the entire 15% of compensation. This plan is very popular due to the ease of administration.

Establishing one of these tax-qualified plans with Brotherhood Bank & Trust offers many advantages to you and your workforce. We have prototype plans available but can also administer individually designed plans as well. Plus our experienced retirement plan specialists will assure proper implementation of the plan you choose.