Employer-Provided Retirement Plans
Attracting quality employees and retaining their services is key to a successful business. A properly designed retirement plan can attract quality employees, reduce turnover and increase company loyalty and profits. We specialize in administration and investment management of qualified retirement plans.
First Western Bank & Trust utilizes prototype documents that allow plan establishment by simply signing the appropriate documents. This is the most cost-effective type of plan and has been pre-approved by the Internal Revenue Service. First Western Bank & Trust will also assist with the responsibility of keeping the plan updated with all current regulations.
Retirement Account Services
Profit Sharing
401(k)
Individual 401(k)
Safe Harbor 401(k)
Administrative and Trustee Services
We provide the following administrative and trustee services for all employee benefit plans:
- On-site meetings with employees
- Participant statements
- Summary annual reports
- Summary of participant accounts
- Annual 5500 reporting
- Annual plan testing
- Monitoring of asset maturity
Local administrative staff and in-house computer systems allow flexible report design and responsive client service.
Investment Services
First Western Bank & Trust can also provide the fiduciary responsibility of investment management. The following investment management duties would be assumed:
- Determination of trust investment objectives
- Investment of trust funds
- Providing investment options for employees
- Reports of trust assets on a periodic basis
- Monitoring of investment ratings and values
- Cost-effective security purchases and sales
Get Started Today
Ready to experience personalized banking that fits your life? Visit a branch near you or sign up for online banking today. We’re here to help you achieve your financial goals.