Johnson Bank can deliver a retirement plan, tailored to your company’s needs, that combines world-class investment experience, personal service and effortless administration for you.
You want to be an employer of choice, and attractive employee benefits are key to making that happen. Your company’s retirement plan should be something that helps you attract and retain quality employees without taking all your time and energy to administer.
We offer comprehensive retirement plan services for your company’s pension, profit-sharing and 401(k) programs, all locally-delivered and serviced in-house to ensure quality.
| Defined Contribution Plans | Your employees can set aside pre-tax dollars in their retirement account to be invested in funds chosen by you. Contributions and earnings grow tax-deferred. Click here to see limits. 401(k) retirement plans for employees of corporations. Employers can match employee contributions up to a specified amount. 403 (b) retirement plans for employees of public entities and most not-for-profit organizations. Generally, 403 (b) accounts do not have an employer match. |
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| Administrative Services & Recordkeeping | Our integrated professional administrative staff uses a team approach that saves you significant time and energy – and provides you with the personal attention you deserve.
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| Employee Communications | Communicating with your employees about the importance of planning for retirement helps you increase participation and appreciation for the plan you're providing. Informed investors make better decisions, leading to their long-term happiness, which is why we continue to stay in touch with them beyond enrollment. |
Did you know, on average, Social Security replaces only 30% of pre-retirement earnings, leaving most people to rely on their employer-sponsored retirement plans to make up the difference?
Johnson Bank’s open architecture structure means that we're not tied to any proprietary funds, ensuring that you receive objective advice regarding your fund offerings.
Our top-rated investment fund options include equity, fixed income and money market asset classes.
We utilize comprehensive screening tools and analysis in our mutual fund selection and review processes. The mutual fund data is carefully reviewed to ensure the mutual fund will meet the desired investment objective within the parameters of our asset allocation process. Mutual funds are then reviewed on an ongoing basis to ensure investment objectives continue to be consistent with our analysts’ expectations.
Qualified Retirement Plans must take various dollar limits into consideration. Some of these are indexed and can therefore change on occasion. The IRS has announced benefit plan limits for 2017. Below are the figures for 2017, along with the previous 2016 limits for comparison.
| Limits | 2017 | 2016 |
|---|---|---|
| 401(k) Plan Elective Deferral Limit (Calendar Year) | $18,000 | $18,000 |
| 401(k) Plan Catch‐up Contribution Limits | $6,000 | $6,000 |
| Maximum Annual Contributions Limits (Money Purchase, Profit Sharing Target Plans) | $54,000 | $53,000 |
| Maximum Annual Benefit Limit Defined Benefit Plans | $215,000 | $210,000 |
| Maximum Annual Compensation Limit | $270,000 | $265,000 |
| Compensation Limit for Highly Compensated Employees* | $120,000 | $120,000 |
| Social Security Taxable Wage Base Limit | $127,200 | $118,500 |
| AGI Limits (Saver's Credit): | ||
| Married Couples Filing Jointly | $62,000 | $61,500 |
| Single and Married Individuals Filing Separately | $31,000 | $30,750 |
*Employees owning more than 5% of a company, as well as an employee who is a spouse, child, parent or grandparent of an employee owning more than 5% of a company will always be considered highly compensated.
An employer sponsored retirement savings account could be one of your best tools for creating a secure retirement. It provides two important advantages. First, all contributions and earnings are tax-deferred. You only pay taxes on contributions
A 401(k) can be one of your best tools for creating a secure retirement. It provides you with two important advantages. First, all contributions and earnings to your 401(k) are tax-deferred. You only pay taxes on contributions and earnings when
