Selecting and monitoring a retirement plan provider is an important task. The right 401(k) provider won’t only reduce administrative headaches– they’ll also boost employee morale and improve retention.
At Hills Bank, we offer all-inclusive, bundled retirement plan services designed around the plan sponsor and participants’ needs. We approach each plan and its participants with the responsiveness of a community bank while offering the latest technology and plan-design services. For example, plan sponsors and participants have the ability to monitor and manage their accounts via our interactive, web-based service at any time.
Our bundled services include trusteeship, investment management, recordkeeping, and plan asset custody.
Local professionals and service – no outsourcing
At Hills Bank, we provide all aspects of our employer-sponsored retirement plan services right here in the Corridor.
It’s a one-stop shop with one point of contact. We serve as:
|Trustee:||As a 3(38) fiduciary, we share in fiduciary responsibility with the plan sponsor, provide administrative support and education, and stay up-to-date with regulations|
|Custodian:||We collect income and provide safekeeping of assets|
|Investment Manager:||Our experts select and monitor investment options, report performance, and conduct on-site or online employee meetings|
|Recordkeeper:||We maintain participant records, prepare forms and IRS documents, process benefit payments and other participant-initiated requests, provide reporting to the plan’s sponsor, and provide daily valuation of plan assets|
Both employers and their employees have the ability to speak to their local Hills Bank employee benefit professional in person, through video conferencing, or over the phone to get assured answers to their questions in a timely manner.
Business Owner Retirement Planning
For many business owners, much of their net worth is tied up in the value of the business. If the business loses value, so does the owner's net worth. Learn different retirement plans for business owners to diversify your income.
Please note that neither Hills Bank nor the Hills Bank Trust and Wealth Management Department provide tax or legal advice. You should always consult an attorney along with a tax professional to determine how to prepare the best estate plan for your situation. Investment products are not a deposit, not FDIC insured, not insured by any federal government agency, carry no bank guarantee, and may go down in value.