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Investment Center

Products: Money Purchase Pension Plans

Who may use All types of businesses.
Who must be covered Any employee with 1,000 hours of service within one year and who is age 21 or older. If immediate 100% vesting is offered, two years of service may be required. Can exclude certain employees.

Annual contributions

Required employer contribution

 

Amount stated in plan document (same % contribution required each year).

Maximum contribution that the employer can deduct 25% of employee’s pay (maximum eligible pay per employee is $200,000).
Maximum allocation to employee’s account 100% of employee’s total pay or $40,000, whichever is less.
Maximum employee deferral No deferrals allowed.
Vesting Choice of immediate 100% vesting or a range of schedules.
Advantage Fixed contribution required; easy to budget from year to year.

Products: Profit Sharing Plans

Who may use All types of businesses.
Who must be covered Any employee with 1,000 hours of service within one year and who is age 21 or older. If immediate 100% vesting is offered, two years of service may be required. Can exclude certain employees.

Annual contributions

Required employer contribution

 

Flexible contribution allowed each year (preset amount not required); however, employer must make “substantial and recurring” contributions.

Maximum combined contribution that the employer can deduct 25% of total eligible payroll (maximum eligible pay per employee is $200,000).
Maximum allocation to employee’s account 100% of employee’s total pay or $40,000, whichever is less.
Maximum employee deferral No deferrals allowed without adding a 401(k) feature.
Vesting Choice of immediate 100% vesting or a range of schedules.

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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.
Disclaimer
No
Yes

The Fair Housing Act prohibits discrimination in housing because of:

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.