Retirement Plans

Small and mid-size businesses turn to the Trust Services of The North Side Bank & Trust for employee retirement planning. Whether you are a business owner or human resources manager, your Trust Services partner at The North Side Bank & Trust works closely with you to determine which specific plan is suited to meeting your business’ needs.

Profit Sharing Plans, 401K Plans, or a Defined Contribution Plan can be expertly constructed and managed through our Trust Services department. For those choosing to steer away from traditional corporate plans, we implement an easy-to-manage SEP Plan (Simplified Employee Pension) - an effective alternative for self-employed individuals or small businesses. 

In any situation, The North Side Bank & Trust provides convenient Trust Services solutions to your employee benefits needs.

Depository IRA’s

Your contributions can be invested in North Side Bank Certificate of Deposits (CD’s) $500 or $1000 minimum depending on the term. The IRA Savings Account has no minimum investment and is FDIC insured up to $250,000.

Mutual Fund IRA’S

Your contributions can be invested in a variety of mutual funds provided through Federated Investors with a $500 minimum investment. Founded in 1955, Federated is one of the largest mutual fund managers in the U.S. with over $140 billion in managed assets.

The Federated Managed Allocation Portfolio offers the opportunity for long-term growth. This is a diversified portfolio of more than 500 securities in nine different asset classes. These are conservative funds striving for consistent performance. By owning securities in different asset classes, these funds have exposure to areas performing well even if others are lagging.  Thus the funds seek attractive returns over time with less volatility than a fund that invests in only one asset class. 

Federated Max-Cap Fund offers an excellent opportunity for long term growth. It is a convenient way to own a diversified portfolio of blue-chip stocks that consistently seek to parallel the return of the S & P 500 Index.  The fund offers broad diversification and less risk than a more concentrated portfolio.

Federated American Leaders Fund seeks to provide investors with growth of capital and income through high quality stocks.  Selections from attractively priced stocks of leading companies that appear to be temporarily undervalued offer a value oriented approach.

Federated International Equity Fund seeks to provide investors with total return by investing in international stock.  It offers a prudent way for investors to enter the international sector.  It is an excellent way to diversify a portfolio of domestic assets, potentially lowering a portfolio's overall volatility.

Federated Communication Technology Fund seeks to provide investors with long-term capital appreciation in communication and technology securities.  The holdings are chosen for long-term exposure, attractive valuation, and positive risk/return characteristics.

Mutual funds are not deposits or obligations of any bank, are not insured or guaranteed by the FDIC, the Federal Reserve Board, or any other government agency. Investment in mutual funds involves risk, including the possible loss of principal.

Self-Directed IRA’s

These IRA’s can be invested in most securities (Stocks, Bonds, Mutual Funds). The investments are managed by you. There is a $100,000 minimum investment. The fee is $1.50 per $1000 of assets plus $20 per trade (1st four trades are free). There is a $200 minimum annual fee. This IRA is not FDIC insured.

Managed IRA’s

These IRA’s can be invested in most securities (Stocks, Bonds, Mutual Funds). Our Trust Investment Officer manages the investments. There is a $100,000 minimum investment. The fee is $7.50 per $1000 of assets. There is a $600 minimum annual fee. This IRA is not FDIC insured.

SEP Plans

A Simplified Employee Pension Plan is a retirement plan established by an employer. Each year the employer may contribute a percentage of each eligible employee’s compensation directly to an IRA established for the employee.

Rollover IRA’S

A Rollover IRA is a tax-free reinvestment of your employer retirement account into an IRA. It allows you to avoid taxation on your lump sum distribution.