Research shows us that one of the number one concerns individuals have, regardless of net worth, is their ability to have a comfortable retirement and not out live their assets. Though this is a concern, only 43% of the population has actually tried to calculate how much they will need.

Depending on your individual situation, one or a combination of our investment options may best meet your financial needs. In addition, we would like to offer to have one of our banks Investment professionals run a projection to help determine if you are on track to retire and maintain a lifestyle that you would like.

It is unfortunate, but as the saying goes, "Most people will spend more time planning their 2 week vacation than they will spend planning their 20 year retirement". Download Your Retirement Lifestyle Book to begin planning today.

401(k) Plans

  • $386 Million: Market value of participant directed accounts
  • 140+ participant directed accounts
  • 1 to 1,500+ participant plan size 


Security National Bank offers a variety of retirement plans to fit your companies or organizations specific needs. Our combination of products, investments, service and technology delivers exceptional value to our plan sponsors and participants.

The following retirement plans are available:

  • 401(k)
  • Profit Sharing Plan (with or without 401(k) options)
  • Money Purchase Pension Plan
  • Target Benefit Plan
  • 403(b) and 457 Plans
  • Employee Stock Option Plan
  • SIMPLE IRA Plans


Plan Services:

Trustee 

  • Share in Fiduciary responsibility with plan sponsor
  • Regulatory and compliance updates
  • Plan sponsor administration support and education
  • Department of Labor and Internal Revenue Service updates

Investment Manager 

  • Development of Investment Policy
  • Select and monitor investment options
  • Investment performance reporting
  • On-site participant enrollment and education meetings


Recordkeeper 

  • Develop and execute Internal Revenue Service qualified document
  • Maintenance of participant records
  • Benefit payments
  • Form 5500 preparation
  • Non-discrimination testing


Custodian 

  • Collection of income
  • Safekeeping of assets


Security National Banks retirement plan services may be all-inclusive or shared. Our solution driven approach is designed to meet the needs of your organization.

Compliance

Our trained staff of Employee Benefit professionals are available to assist and support you with the administration of your plan in the areas of:

Plan Design 

  • Document Design (Standard vs. Non-standard)
  • IRS Determination letter
  • Law changes and updates
  • Control Groups
  • Affiliated Service Groups
  • Non-Qualified Plans


Annual Reporting and Filings 

  • Annual Tax Filing (Form 5500)
  • Annual Non-Discrimination Testing
  • ADP & ACP
  • Top Heavy
  • 415
  • 402(g)
  • Coverage


Plan Administration

  • Eligibility
  • Re-hires
  • Terminations
  • USERRA (Military Leave)
  • Calculation of benefits 
  • Compliance with ERISA 404(c)
  • Calculation of Corrections
  • Payroll tracking


In addition to the trained staff of professionals, an Employee Benefit Consultant firm (McKay Hochman, Inc. Co.) is available on retainer at all times to assist with the administration and compliance complexities at no additional charge.

Participant Education

At Security National Bank we will review with participants at each enrollment and education meeting the following information:

Plan Features:
Investments:

  • Eligibility requirements Saving and participating in the plan
  • Employee and employer contributions Explanation of investment options
  • Vesting of employer contributions Importance of portfolio diversification
  • Distributions and loans (if permitted) Asset allocation
  • Retirement age Risk vs. Return
  • Explanation of quarterly statements Review fund performance
  • Internet and Voice Recognition Unit (VRU)


For more information, contact the Wealth Management Division at:

Tel: (712) 277-6586

Tel: (800) 475-4468

Fax:(712) 277-6713

E-mail