Planning for the Future

Explore Our Employer Retirement Plans

We work with employers to set up a retirement plan that can meet everyone’s goals.

JCB’s Trust Department coordinates all services necessary to establish and maintain employee retirement plans. We work with employers to provide qualified retirement plans such as pension, profit sharing, 401(k) plans and SIMPLE IRAs. Investment alternatives are available to meet the needs of all participants (regardless of their age or retirement objective). JCB’s Trust Department coordinates all services necessary to establish and maintain employee retirement plans.

We work with employers to provide qualified retirement plans such as:

Simplified Employee Pension (SEP)
Profit sharing

401(k) plans
SIMPLE IRAs

Investment alternatives are available to meet the needs of all participants (regardless of age or retirement objective)

Employer Sponsored Retirement Plans

Which One is Right for You?

Choosing the right retirement plan may be one of the most important business decisions you make. Ensuring that you select a plan that is affordable, administratively practical and compatible with your business objectives is your goal.

Simplified Employee Pension (SEP)

You have until your tax return due date plus extensions to establish and fund a SEP
Contributions for each eligible employee may not exceed 25% of each individual’s compensation, or in 2016, $53,000 if less
The employer’s deduction limit for contributions made may not exceed 25% of the aggregate compensation paid to eligible participants
Features administrative ease, no government reporting, is less restrictive of who participates, and need not be funded each year or at a specified level

Simple IRA Plan

Plan must be established by October 1 for a current plan year
Employer may choose either a matching contribution or a non-elective contribution method
Annual deferral limit is $12,500 for 2016. These deferrals can be a flat dollar amount or a percent of pay. Catch-up deferrals up to $3,000 are allowed for employees age 50 and over during 2016
Employer match, if chosen is up to 3 percent of pay. Non-elective contribution is 2 percent for all eligible employees
Employer’s deduction limit is the same as the contribution limit
This plan features administrative ease, no government reporting, it avoids complicated nondiscrimination testing
Does not limit eligibility or employee access to funds

Profit-Sharing Plan

Plan may be established up until the end of your tax year
You can delay funding the plan until your tax return due date plus extensions
Flexible contributions are determined each year
Contributions limit is 100% of compensation or $53,000 for 2016, whichever is less
Employer’s deduction is limited to 25% of gross compensation paid to all eligible participants for the year
Allows flexible funding, allows restrictive coverage and allows vesting schedules

401(k) Plan

Plan may be established up until the end of your tax year
Deferrals may only be made prospectively
Matching or other employer contributions may be made before employer’s tax return due date plus extensions
401(k) component often added to profit-sharing plans
Contribution limit (employer and employee) is 100% of compensation, up to $53,000 for 2016
Employer’s deduction limit is 25% of gross compensation paid to eligible employees for the year
Deferral limit is $18,000 for 2016. Catch-up deferrals up to $6,000 are allowed for employees age 50 and over during 2016
This is a highly visible employee benefit, has flexible funding, allows restricted coverage and can include vesting schedules

Have You Considered?

Establishing a plan to maximize personal contributions to retain, attract and motivate quality employees?
Are revenues steady or run in cycles of high and low cash flows?
What costs in dollars and time are you willing to absorb?

Trust Services Solutions & Resources

Use these tools to learn more about JCB's retirement planning services.

Individual Retirement Accounts

Retirement Planning

Trust Services

Ready to Get Started?

CONTACT A JCB TRUST OFFICER TODAY TO DISCUSS YOUR OPTIONS!

Meet Your Trust Officers

JCB's Trust Officers have the experience and knowledge to guide your financial decisions. Contact one of our Trust Officers to learn about our services.Select a photo for contact information.