Retirement Plan Services

Our goal is your retirement success, as you define it.

A retirement plan can be a wise choice in saving for your future.  Whether you contribute to your corporate sponsored retirement plan or your personal IRA, managing your investment risk, diversification and asset allocation are all concerns a SENB Wealth Management Officer can assist you with. Retirement plans offer unique benefits such as tax-deferred or tax-free savings and is a smart way to maximize your retirement savings.

The SENB Partnership

Defined Objectives, Desired Outcomes

 

Whether you’re retiring, changing employment, or are simply ready for a plan review, our team can help. Together we can sit down and review your current assets, 401k plan, and personal goals, and find solutions that will best minimize taxes and maximize personal benefits.

We can:

  • Develop a personal investment program that fits your needs
  • Consolidate assets and streamline your investments
  • Coordinate distribution strategies, to save cost and maximize benefits.

 

Retirement Plan Services – Individual

Traditional IRA

If you expect to be in a lower tax bracket when you retire or begin to take distributions, this may be an attractive option for you. Contributions may be tax-deductible, depending if you (or your spouse) are covered by an employer plan. IRS penalty-free withdrawals may be made for qualified college expenses and for qualified first-time homebuyers. 

Roth IRA

A Roth IRA may be an excellent choice for those who don’t need a tax deduction now and want to receive tax-free distributions during retirement. Contributions can be withdrawn at any time without federal taxes or IRS penalties. You may also be able to withdraw your earnings tax-free, depending on how long you’ve had your plan. 

Simplified Employee Pension Plan (SEP) IRA

A retirement plan specifically designed for the self-employed individual or small business owner, the SEP IRA is a simple, low maintenance way to build a retirement savings for the employer, as well as their employees. This option allows for discretionary, tax-deductible contributions for the employer and eligible employees of a sole proprietorship, partnership, and S- or C-corporation. Earnings and contributions are tax-deferred. 

 

Retirement Plan Services – Business

In the current economy, 401(k) plans have become one of the most important retirement savings vehicles for most Americans. Employers want to provide low-cost, well-managed options for themselves and their employees, with low fees, suitable investment choices and solid advice. Does your 401(k) plan do this? If not, please call one of our financial professionals today for a no-fee retirement plan analysis.

SENB Wealth Management Retirement Plan Services enable companies to deliver value and benefit to their employees – helping your employees achieve their retirement goals – while reducing costs and lost time for our businesses. 

SENB Wealth Management offers the following plans:

  • Pre-Tax / Roth 401(K) plans
  • Safe Harbor 401(K) plans
  • 403(B) plans
  • 457 plans
  • Profit sharing plans
  • Cash Balance Plans
  • Defined Benefit Plans
  • ESOPs
  • Non-qualified Plans

 

We will be happy to sit down with you to discuss more details about how each type of plan works, including the maximum contribution and withdrawal limitations.

 

Financial Planning    Investment Management    Fiduciary Trust Services

Start a New and Lasting Partnership Today

To get started, stop in or call our financial professionals today at (309) 743-1202.

Not FDIC insured, not a deposit or other obligation of, or guaranteed by, the bank, and subject to investment risks, including possible loss of principal amount invested.