401(k)
Your Benefits
A 401(k) Plan, named after section 401(k) of the Internal Revenue Code, is a qualified defined contribution plan that permits employees of qualifying companies to set aside tax-deferred funds each pay period. The 401(k) Plan is very flexible and is the most popular choice of employees. First Bankers Trust Services has made the commitment to provide clients with the 401(k) plan that best meets the needs of the company.
Your Options
First Bankers Trust Services acknowledges the individuality of each 401(k) plan design. Some of the service options we provide to our clients are:
* Design and review of the plan and trust provisions
* Implementation of the plan
* Client administrative training
* Employee communication
* Provide investment platform solutions that best serve your employees needs and meets your goals
* Assistance in selecting the investment platform for employee investments
* Coordination with the previous providers to insure a smooth transition
* Assistance with compliance as the complex laws and regulations change
* Assist in the establishment of the Plan's customized investment policy statement
* Monitor and report the investment performance to your customized investment policy statement
* Monitor and communicate to you industry trends and provider enhancements that effect your plan
* Provide the single source of problem resolution for your plan
Our Services
We have access to nearly 1000 mutual funds and the ability to hold company stock. Our flexibility enables us to effectively service your start-up or your multi-million dollar 401(k) Plan. Clients can rely on our up-to-date knowledge and experience for practical advice on retirement plan issues. We can serve you in a variety of ways depending on the needs of your company:
Trustee - First Bankers Trust Services will carry out the decisions made to serve the 401(k) and the plan participants.
Custodian - First Bankers Trust Services will hold the assets and make distributions as directed by the company.
Consultant - First Bankers Trust Services will provide our expertise to your plan's trustees to assist them in fulfilling their fiduciary obligation.