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Investment Center

Products: Pension, Profit-Sharing, and 401(k) Plans

Successful business owners know that offering retirement  plan benefits as part of their company benefit package will help attract and retain qualified employees. There are many retirement plans and you may want to consider qualified plans such as money purchase pension plans, profit sharing plans and 401(k) plans. First Minnetonka Investment Center (FMIC) helps businesses select, manage, and administer the ideal plan for you based on your unique needs.

Products: Money Purchase Pension & Profit Sharing Plans

Money purchase pension and profit sharing plans have many benefits to both employers and employees.

For employers the fixed annual contribution requirements of money purchase plans make it easier for employers to budget retirement plan expenses. With profit-sharing plans, flexible contribution requirements allow employers to adjust their yearly contributions depending on the profitability of the company, as long as those contributions are “frequent and ongoing.”

For employees fixed annual employer contributions under money purchase plans offer employees a measure of comfort that money is being accumulated for their retirement.
Tying employer contributions to company performance under profit-sharing plans provides employees with an incentive to help make the business profitable.

Learn more about Money Purchase Plans and Profit Sharing Plans

Products: 401(k) Plans

401(k) plans are retirement plans that enable workers to accumulate funds for retirement in long-term, income tax-deferred investment accounts. They were created to encourage Americans to assume responsibility for retirement planning with a disciplined approach to investing. Participants direct their employer to deduct a portion of their pre-tax dollars from their paycheck and put it into investment accounts. Because the money is taken before the employees get their checks, they rarely notice that the money is missing and it is left to grow for use in retirement. A 401(k) plan is portable, which means employees can take the funds with them if they leave their job.

The 401(k) contribution limit is $17,500 in 2013 ($23,000 if age 50 or older). If the employer matches part of the employee’s contribution, which they may do, the combined total cannot exceed 100 % of the employee’s income, and can be no more than $49,000. Contact us for more information about setting up this type of an account.

IRA Rollovers:

If you are preparing to retire or have recently changed jobs, you may need to decide what to do with the money in your previous employer’s retirement plan.  A Rollover  is ideal because it allows you to transfer your existing retirement account into another retirement account without being subject to unnecessary taxes or withdrawal penalties.  Because the funds in your retirement accounts are generally funded with pretax dollars, and grow tax-deferred, they will be subject to ordinary income tax and sometimes penalties upon withdrawal*.  Unfortunately, many people take these unnecessary losses and penalties by withdrawaing the funds simply because they don’t know their options or how to rollover the assets.  To learn more about having Our Financial Planner help you with your rollover, contact us today.

*consult your tax adviser

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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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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.