Investing in your employees' futures is one of the most meaningful investments you can make in the future of your business. ANB's retirement plan solutions help employers offer valuable retirement benefits while simplifying plan administration.
We combine the flexibility your employees want with the cost-effectiveness and administrative ease you require, backed by the support and expertise of the nation’s largest independently owned bank.
Contact one of our retirement professionals today at (806) 345-1665 or 1-800-ANB-FREE (1-800-262-3733).
Our Employer Retirement Services Include:
- Plan Design
- Plan Administration Guidance
- Compliance with Regulations
- Employee Education and Enrollment
- And more!
We help with a variety of different employer-sponsored retirement plans, click below to learn more:
Employer Sponsored Retirement Plans:
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401(k) Plans
With these popular plans, employee contributions represent deferred compensation and therefore may offer income-tax incentives. 401(k) plans also allow employers to make matching or profit-sharing contributions on their employees' behalf — and receive a corporate tax deduction.
- Investments may be Trustee or Participant directed
- Flexible withdrawals may be designed into the plan document
Profit-Sharing Plans
With these plans, employers may share profits with employees by funding the retirement plan in full according to a set formula or discretionary amount. Employer contributions receive a corporate tax deduction. However, contributions are not required every year — this is strictly at the employer's discretion
- Employees are not allowed to make contributions
- Investments may be Trustee or Participant directed
- Flexible withdrawals may be designed into the plan document
Cash Balance Plans
These plans are fundamentally the same as defined-benefit plans, but with the advantages of a profit-sharing plan. The key difference is that cash-balance plans provide benefits in the form of a determinable account balance rather than an ending retirement benefit.
- Withdrawals are more flexible than with defined-benefit plans
- Advantageous to small or privately owned businesses and those who wish to receive larger retirement contributions
Money Purchase Plans
These plans are similar to profit-sharing plans, except that the annual employer contribution amount is defined by the plan document and is not discretionary. Employer contributions receive a corporate tax deduction.
- Investments may be Trustee or Participant directed
- Flexible withdrawals may be designed into the plan document
- May be combined with other retirement plans
Defined Benefit Plans
A defined benefit plan provides participants with a predetermined retirement benefit based on factors such as compensation, age, and years of service. These plans can allow employers to make larger tax-deductible contributions than many other retirement plan options while helping employees build a predictable source of retirement income.
- Employee contributions can be required or voluntary
- Employers can contribute (and deduct on their taxes) more than other retirement plans allow
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