What Can Heartland Trust Company Do for You?
Here at Heartland Trust Company, we are proud of the great reputation we have built in the community over the last 30 years. We know that if we do business the right way, we will be here for a long time. Our mission statement says it all: “We provide a lifelong commitment to the well-being […]
The Importance of Annual 401(k) Census Information
Businesses that sponsor 401(k) plans are required to run annual compliance tests to ensure that their plan meets the regulatory requirements to maintain their qualified status. In order to run these tests, your Third Party Administrator (TPA) will request certain information from you such as a complete census file. This file includes important information on […]
Why You May Need a 401(k) Investment Policy Statement
No matter how business savvy you are, choosing how to invest your money can be tricky. If you are a business owner who sponsors a retirement plan, this becomes even more worrisome because you are expected to choose investments to offer your employees. While it is possible to divest yourself from some of the risk […]
When to Consider Target-Date Funds
Since target-date funds were first offered in the early 1990s, they’ve become a widespread investment vehicle for retirement. Their booming popularity is no surprise. After all, a target-date fund (or TDF) is easy for novice investors to manage, and even experienced investors can appreciate the hands-off simplicity they can offer. But do your research: a […]
COLA Limits for 2019
The Internal Revenue Service and the Social Security Administration have announced the cost of living adjustments (COLA) applicable to dollar limitations for retirement accounts and the Social Security wage base for 2019. Many of the limits have changed for the 2019 plan year. Changes for 2019 are in bold in the chart below. IRA and SIMPLE plan limits are […]
401(k) Limits for 2018
It’s not too early to review how to make the most of your retirement contributions in 2018. Below you will find a table that shows the contribution limits for retirement accounts. It is for informational purposes only. Please note that the contribution limit for company sponsored retirement plans increased by $500 this year, which means […]
Self-Trustee vs. Corporate Trustee for Your 401(k) Plan
Early in my career, I attended a three-day training in the Twin Cities for 401(k) plan administration. I met my niece one evening for dinner and she was shocked to hear that it took three days to train on 401(k) plans. I didn’t have the heart to tell her that I was attending a basic […]
IRA and Retirement Plan Limits for 2018
The maximum amount you can contribute to a traditional IRA or a Roth IRA in 2018 is $5,500 (or 100 percent of your earned income, if less), unchanged from 2017. The maximum catch-up contribution for those age 50 or older remains at $1,000. You can contribute to both a traditional IRA and a Roth IRA in 2018, but your total contributions can’t exceed these annual limits.
More Than a Trust Company
Before I joined Heartland Trust Company, I knew about its great reputation in our community and throughout the region. I admired this award-winning organization and its dedicated people, but like many others, I also thought the company only managed trusts. After all, the name is Heartland TRUST Company. That said, managing trusts is only one […]
