401(k) Retirement Plan

Turn-key retirement plan services

Selecting and monitoring a retirement plan provider is an important task.  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 ongoing ability to monitor and manage their accounts via our interactive, web-based service.

Our bundled services include trusteeship, investment management, record keeping, and plan asset custody.

Local professionals and service –  no outsourcing

All aspects of our employer-sponsored retirement plan services are provided by Hills Bank right here in the Corridor.  This means both employers and their employees have the ability to speak to a local Hills Bank employee benefit professional during normal business hours.

Trustee

  • Share in fiduciary responsibility with plan sponsor
  • Implement regulatory and compliance updates
  • Provide administrative support and education for plan sponsor
  • Keep current with Department of Labor and Internal Revenue Service updates

Investment Manager

  • Develop an investment policy
  • Select and monitor investment options
  • Report investment performance
  • Conduct on-site participant enrollment and education meetings

Record Keeper

  • Prepare and execute Internal Revenue Service qualified plan document
  • Maintain participant records
  • Process benefit payments
  • Prepare Form 5500
  • Complete non-discrimination testing

Custodian

  • Collect income
  • Provide safekeeping of assets

Contact us online or call a Hills Bank Investment Professional today to arrange a meeting with the Hills Bank Trust and Wealth Management Department's Employee Benefit Group.

 

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.