Through our custodian we can provide a full range of retirement products including Traditional, Roth and Rollover IRA, plus IRA checking. Other retirement plans include 401K and Profit Sharing.
Regardless of the plan chosen, you will have the advantages of our custody platform, which include online multicurrency reporting, portfolio accounting and corporate actions servicing.
Some of the retirement accounts mentioned above, are covered in our Wealth Management Section under Retirement Planning.
- Rollover IRA: A rollover process means moving your retirement savings from your retirement plan at work (401(k), profit-sharing plan, etc.) into an Individual Retirement Account (IRA). Rolling over to an IRA allows you to keep your savings tax-deferred and typically gives you a broader choice of investments. It also gives you more flexibility and control over your retirement money.
- IRA Checking: You can take advantage of unlimited check writing against your available funds through your IRA account.
- Profit-Sharing Plan: This plan is built on recurring company contributions. As long as you have worked for the company for at least two years, you are eligible to participate in the plan. The company decides on its total contribution, which is tax-deductible. This can go up to 15% of eligible salary or $30,000 per participant, whichever is lower. Firms also retain the flexibility to contribute to the plan only in profitable years. Therefore, increasing or decreasing company profits can affect your account value in the plan. Investment performance, as always, is also a factor. Your money is invested in various assets (any profits are tax-free), you are 100% vested right away, and you or your beneficiaries receive benefits at retirement or in the event of illness, layoff, disability or death.
Click here to view additional information about Retirement Planning.