A 401(k) Plan for Your Business

My Statement

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Trust, Investment and Planning Services From The People You Know

Your company’s retirement plan is a critical fringe benefit. It is essential to the long-term well-being of your company, its employees and you personally. Therefore, choosing the right plan provider is one of the most important decisions you will ever make.

Is your current plan provider the “best possible” choice? How do you determine the answer to that question? After all, most providers offer the same tired list of features: 1) free plan design; 2) prototype plans for low cost and compliance ease; 3) recordkeeping and administrative services; 4) compliance testing; 4) non-proprietary mutual funds; 5) asset allocation models; 6) internet access; and 7) educational services.

Although important, far more is required to be a “best possible” plan provider! We believe that it requires a singular focus on your employees as unique individuals who possess a unique set of preferences, needs and goals. That focus inevitably leads to the realization that every participant must be able to make two important decisions. One involves desired level of service; hence the ability to choose the type of relationship that participant wishes to have with us.

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Individual participants typically require different levels of assistance. Some are knowledgeable and fully capable of planning for retirement and making sound investment decisions, while others need greater assistance. We believe that it is important to meet the needs of all participants regardless of ability level; therefore, the following relationship types are available in every plan we offer – at no additional cost:

  • Self-Directed: This format is appropriate for participants who are comfortable planning and making investment decisions with minimal help or input. To assist, we provide access to our market, economic, planning and asset research as requested.
  • Partnership: This arrangement is appropriate for participants who desire a modest level of guidance in the investment and planning processes.
  • Fully-Managed: This approach is ideal for participants who desire on-going professional portfolio management and who may lack the time, interest or expertise to make portfolio management decisions. Under this arrangement, we work closely with that participant to identify his or her investment objectives, tolerance for risk, time horizon and other factors. Once identified, we create a written investment policy that guides our portfolio management decisions.

Partnership and Fully-Managed relationships offer the steadying influence of professional judgment.

The second decision involves access to an appropriate and broad range of available investment options as opposed to a limited number of mutual fund families and funds. Consider the following:

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Most plan providers limit available investment options in order to achieve operational and cost efficiencies. This approach ignores individual needs and prevents a participant from designing an investment strategy most appropriate for his or her personal situation.

Our approach is different. We believe that it is important to offer a wide range of investment choices as follows:

  • Mutual Funds (Approved List): Our approved list contains roughly one hundred funds from thirty plus different fund families. All must meet or exceed our rigorous selection criteria.
  • Mutual Funds (All Other): A plan participant may direct us to purchase any no-load mutual fund of his or her choosing even if it is not on our approved list.
  • Individual Stocks and Bonds: Many participants prefer individual securities - either in conjunction with mutual funds or exclusively. We are happy to accommodate these requests.
  • Certificates of Deposit: For those participants who desire safety and stability of principal, certificates of deposit are often the best choice. Plan participants may direct us to purchase certificates of deposit from a wide range of area banks; in addition, certificates of deposit may be used in partnership and fully-managed relationships, if desired.

Again, this approach permits plan participant to choose investments that are most suitable for their individual circumstances, objectives, needs and tolerance for risk.

We offer these important choices for SIMPLE and SEP arrangements as well.

To learn more, please call one of our Wealth Management Officers at (608) 798-1515.

Investment products

Are Not FDIC Insured Are Not Bank Guaranteed May Lose Value

Not all investment products are FDIC insured; Non-Deposit Investment Products (NDIPs) are not a deposit or other obligations of, or-guaranteed by, State Bank of Cross Plains; Non-Deposit Investment Products (NDIPs) are subject to investment risk, including possible loss of principal amount invested.

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