Employee Benefits Administration

Bundled Retirement Plan Administration

First Bank & Trust specializes in consultation, design, support and ongoing administration of qualified employee benefit plans and trusts. We provide access to top-quality mutual funds on a no-load, no-transaction fee basis, development of asset allocation models and stock and bond portfolio management.

Bundled Retirement Plan Administration provides employers a convenient and cost-effective solution for their complete retirement plan needs. Plans we administer include:

  • 401(k) Plans
  • Profit-Sharing Plans
  • Money Purchase Plans
  • New Comparability Plans
  • Age-Weighted Plans
  • 457(b) Plans
  • 403(b) Plans
  • Davis-Bacon Plans

Our Bundled Services Provide the Following Key Features:

1. State-of-the-Art Recordkeeping

  • Daily valuation of plan assets, toll-free voice response unit (VRU) and Internet access
  • Live Customer Service, Monday through Friday 8:00 AM to 5:00 PM and Saturday 9:00 AM to noon
  • Recordkeeping for employer and participant statements
  • Participant reporting with our enhanced statement format
  • Streamlined, automated loan processing
  • Distribution processing, 1099-R tax reporting and IRS withholding remittance
  • 5500 tax preparation
     

2. Responsive, Accurate Administration

  • Trustee services
  • Plan document drafting and maintenance (IRS pre-approved prototype documents)
  • Professional employee benefit consultation services
  • Legal compliance testing
  • Full plan sponsor management reporting
  • Experienced with Multi-Employer plans and Controlled Group issues
     

3. Flexible, Market-Driven Investments

  • Open Architectural design to enhance fund selection
  • Quality investments in compliance with 404(c) Safe Harbor Guidelines
  • Member of the Fidelity Brokerage Platform and SunGard Transaction Network
  • Alliances with leading mutual fund providers; available without load fees or deferred sales charges:
    • American Century
    • American Funds
    • Dodge & Cox
    • Federated Investors
    • Fidelity Investments
    • Goldman Sachs
    • Harbor
    • Heartland
    • Janus
    • Loomis Sayles
    • Meridian
    • PIMCO
    • Royce
    • T. Rowe Price
    • Vanguard

(This list is not all-inclusive, but rather a representation of our more popular company selections.)
 

4. Personal Service from a Trusted Institution

  • Employee communication and investment education
  • On-site enrollment meetings with on-going participant contact
  • Bilingual forms and experience

Investment management accounts that include non-bank products are not FDIC insured, are not deposits or obligations of, nor guaranteed by, the financial institution or any government agency and may be subject to investment risks, including possible loss of the principal invested.

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