Retirement Plans
Savings Incentive Match Plan For Employees (SIMPLEs)
For businesses with 100 or fewer employees, SIMPLE works much like a 401(k). Employees contribute a portion of pay, but without the tax-filing and administrative costs associated with traditional plans.
- Match employee deferrals up to 3% their annual salaries
- Make non-elective contributions of 2%
Simplified Employee Pensions (SEPs)
This tax- and accounting-favored retirement program lets you make tax-deductible deposits into the Traditional IRA accounts of eligible employees. Simplified Employee Pensions are for companies of any size and allow for a contribution of up to 25% of each employee’s pay. They do not have the start-up and operating costs of a conventional retirement plan.
- Requires no annual plan return filings
- No minimum contribution
- Employees are 100% vested
- Earnings grow tax-deferred
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How can businesses benefit from offering retirement plans?
Because few employees work for a single company for the duration of their careers today, pensions and other traditional retirement benefits are largely bygones. However, as an employer, you can still show your employees that you’re dedicated to them by offering various savings investment options, increasing employee loyalty and longevity.
How can businesses benefit from offering retirement plans?
At Field & Main, we offer several business retirement plan options, including Savings Incentive Match Plan for Employees (SIMPLE) Plans and Simplified Employee Pensions (SEPs).
Why choose Field & Main Bank for your business?
At Field & Main, our commercial banking experts live and work in the communities they serve and are dedicated partners in the success of your business. With Urgency & Care that you would expect from your local trusted advisor, we continually strive to meet your small business banking needs. We offer exceptional accessibility and availability with direct lines of communication for all our commercial clients. And because we’re based right here in Central Kentucky, Western Kentucky, and Southern Indiana, your business can benefit from local and in-person one-on-one assistance, whenever you need it.
Need some help growing your business?
Field & Main makes a concerted effort to understand your business. If there’s any question we can answer or any resource we can provide, we’re more than willing to sit down with you. Let’s find a solution together.
Remote Deposit Capture
A quick and easy way for businesses of any size to make deposits.
Sweep Accounts
Investments are not insured by the FDIC or any federal government agency, provide no bank guarantee, are not a deposit, and may lose value.
Securities are offered through LPL Financial (LPL) a registered broker-dealer (member FINRA/SIPC)
Guided Wealth portfolios (GWP) is a centrally managed, algorithm- based, investment program sponsored by LPL Financial LLC (LPL). GWP uses proprietary, automated, computer algorithms of FutureAdvisor to generate investment recommendations based upon model portfolios constructed by LPL. FurtureAdvisor and LPL are nonaffiliated entities. If you are receiving advisory services in GWP from a separately registered investment advisor firm other than LPL or FurtureAdvisor, LPL, and FutureAdvisor are not affiliates of such advisors. Both LPL and FutureAdvisor are investment advisors registered with the U.S. Securities and Exchange Commission, and LPL is also a Member FINRA/SIPC.
All investing involves risk, including loss of principal. No strategy assures success or protects against loss. There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk.
LPL CRS
https://files.constantcontact.com/a0dc25db601/25c6d293-7917-4fac-9228-aa8b4458df96.pdf
WWM CRS
https://files.constantcontact.com/a0dc25db601/365da67d-fe6f-4e11-baa2-765e4157fe9c.pdf
Bank CRS
https://www.lpl.com/disclosures/is-lpl-relationship-disclosure.html
WWM ADV PART 2A FIRM BROCHURE
https://files.constantcontact.com/a0dc25db601/4bbde2d7-63fd-42a3-83cc-7a8ada79f9d9.pdf
WWM PART 2A APPENDIX 1
https://files.constantcontact.com/a0dc25db601/1e443c67-77dc-4f27-971b-9dd5d60ebce1.pdf
Field & Main provides referrals to financial professionals of LPL Financial LLC (LPL) pursuant to an agreement that follows LPL to pay the Financial Institution for these referrals. This creates an incentive for the Financial Institution to make these referrals, resulting in a conflict of interest. The Financial Institution is not a current client of LPL for brokerage or advisory services.
Please visit https://www.lpl.com/discolsures/is-lpl-relationship-diclosure.html
