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Investment Center

Products: SEP, Simple, Tax Sheltered Annuity (TSA), and 412(i) Plans

Smart small business owners and sole proprietors look to First Minnetonka Investment Center (FMIC)  for retirement planning options such as SEP, SIMPLE, TSA and 412(i) plans. Depending on your company’s size and situation, we can assist you in finding the plan that best meets your needs, whether you’re the only employee or you have several employees.

A SEP is a Simplified Employee Pension plan and is available to companies that have less than 50 employees. With this plan a company may set aside money, on the employee’s behalf, into a retirement account, up to 25 percent of the employee’s income. Both incorporated and unincorporated businesses, as well as sole proprietors, can establish SEP accounts. There are many options available. For more specific information contact us. To learn contribution limits and retirement plan limits for a SEP plan, please see our Retirement Plan Contribution Limits Chart.

A SIMPLE (Savings Incentive Match Plan for Employees) plan allows employees to contribute a percentage of their income, until an $12,000 maximum is met for 2013 ($14,500 if age 50 or older). Under the SIMPLE IRA plan, employers must make annual contributions to each employee's plan, in the forms of matching or non-elective contributions. Employers who have no more than 100 employees earning more than $5,000 in annual compensation are eligible to establish a SIMPLE plan. How much can be contributed? To learn about all of the investment options available, contact us.

We can also manage your current plan if you have TSAs (Tax Sheltered Annuities) made available through non-profit organizations and employees of public school districts as retirement plan options, whether you’re retired or not. TSAs enable you to put a portion of your paycheck into a special retirement savings program. To learn more about having First Minnetonka Investment Center (FMIC) manage your current TSA plan, contact us today.

A 412(i) plan is basically a defined benefit retirement plan that complies with Section 412(i) of the Internal Revenue Code. For the small business looking for bigger benefits than most other plans, a 412(i) plan offers a fully guaranteed retirement that must be funded by a life insurance or annuity contract and generates the largest possible tax deduction for the small business. Special requirements need to be met. Contact us to learn about all of your options and requirements.

Know Your Required Minimum Distributions (RMDs).

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Bank Among Friends
First Minnetonka City Bank
First Minnetonka Investment Center is a registered branch of LaSalle St. Securities, LLC.
Securities are offered through LaSalle St. Securities, LLC., Advisory Services offered through LaSalle St. Investment Advisors, LLC.
 LaSalle St. Investment Advisors, LLC is affiliated with LaSalle St. Securities, LLC.- a registered broker/dealer.
Tam Hubert, CFP® and Kristi Remus are registered representatives of LaSalle St. Securities, LLC.
940 N Industrial Dr., Elmhurst, IL 60126-1131. Member FINRA / SIPC. Not a deposit. Not FDIC insured.
Not insured by any Federal Government agency. Not guaranteed by the bank. May lose value.
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Mission

Enforce the Fair Housing Act and other civil rights laws to ensure the right of equal housing opportunity and free and fair housing choice without discrimination based on race, color, religion, sex, national origin, disability or family composition.

Major Goals

1. Reduce discrimination in housing by doubling the Title VIII case load by the end of 2000 through aggressive enforcement of civil rights and fair housing laws;

2. Promote geographic mobility for low-income and minority households;

3. Integrate fair housing plans into HUD's Consolidated Plans;

4. Further fair housing in other relevant programs of the Federal government; and

5. Promote substantial equivalency among state, local and community organizations involved in providing housing.