Retirement Plan Services

It's no secret that employers compete for the most productive employees. It's no secret, either, that in order to attract the most talented employees, an employer must be prepared to offer a comprehensive compensation package that provides more than just a salary. For many years, qualified retirement plans have formed the cornerstone of many employers' employee benefit programs. Find out how BancorpSouth can offer your business a solution to ensure you have what it takes to compete.

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Understanding our Process

Experience, Knowledge, Stability

BancorpSouth Asset Management & Trust has a long tradition of providing professional, yet personal service to its Retirement Plan clients. Our tenured staff has the formal training and accreditations, tempered with practical work experience, to help you not only design a plan to meet the objectives and needs of your employees and business, but also support the plan with ongoing day-to-day administrative support and personalized employee education/enrollment service.

 You can have peace of mind knowing that you and your employees are dealing with professionals who have specialized in designing and supporting a wide variety of qualified, and even non-qualified, retirement plans such as Executive Deferred Compensation and Top Heavy Plans.  

Education, Administrative Support, Turnkey Service

A successful retirement plan demands a strong, on-going employee education process.  Asset Management & Trust has the tools and professionals in place to provide you and your staff with this critical service.

A successful plan also requires solid, confident administrative support - making sure that the plan is appropriately managed to meet IRS/DOL requirements - freeing you and your staff to focus on running your business. 

Professional Fiduciary, Lack of Agenda, Creative Design and Pricing

Sometimes it is the intangible things that make the most difference.  In all but a handful of our clients' plans, BancorpSouth serves as trustee.  This means that BancorpSouth takes on the potential fiduciary liability and responsibility of the role - not only to you as the employer, your employees and their families, but also to the regulators.  In our litigious society, the peace of mind that this service provides can be immeasurable.  

Our retirement plan business is based on relationships, not transactions.  Thus, we have no agenda to promote a particular product or service.  There are no BancorpSouth brand investment products. We have access to a universe of funds with no loads and no trailer fees.  Plus, we have strategic partnerships with top retirement plan providers in the industry such as Fidelity, Principal Group, Great West, PrimaCapital - Matrix, and John Hancock.  Whether it is a bundled approach or totally open architecture, we have the connections to design and provide you and your employees with a world-class retirement program.  

Services Offered

401(k) Plans

One of the most popular retirement plan options for a business to offer its employees, the 401(k) Plan allows your team flexibility, is easy to understand and offers tax advantages.

Key Plan Benefits:

  • Highly visible employee benefit
  • Flexible funding
  • Allows restricted coverage
  • Allows control over when the money can be withdrawn
  • Allows after-tax contributions

Profit Sharing Plan

A profit sharing plan can be a powerful tool in promoting financial security in retirement. A well designed plan is also a viable option for businesses and can help attract and keep talented employees.

Key Plan Benefits:

  • Flexible Funding
  • Suited to irregular profit patterns
  • Allows restricted coverage
  • Allows control over when the money can be withdrawn

Simple IRA Plan

A SIMPLE IRA plan (Savings Incentive Match Plan for Employees) allows employees and employers to contribute to traditional IRAs set up for employees. It is ideally suited as a start-up retirement savings plan for small employers not currently sponsoring a retirement plan.

Key Plan Benefits:

  • Administrative Ease
  • No government reporting
  • Avoids complicated nondiscrimination testing and top-heavy requirements

Simplified Employee Pension Plan (SEP)

Designed for businesses with 1-25 employees, an SEP plan allows employers to contribute to traditional IRAs (SEP-IRAs) set up for employees. 

Key Benefits:

  • Administrative ease
  • No government reporting
  • Fewer restrictions for participation
  • Need not fund each year, or at a specific level

Transfers and Rollovers

Rollovers and transfers offer opportunities to move your retirement assets where you want them, while retaining their substantial tax advantages.

  • A Transfer is a common method of directly moving IRA assets from one IRA to another  IRA.  A transfer often occurs when moving IRA assets from one financial organization to another, but also may occur between IRAs at the same financial organization. The IRS does not restrict the number of transfers that can be made by one taxpayer
  • A Rollover is a method of moving money or property from one IRA to another IRA, from an eligible retirement plan to another eligible retirement plan, or between an eligible retirement plan and an IRA.  Eligible retirement plans include qualified retirement plans (e.g., 401(k) plans), 403(a) qualified annuity plans, 403 (b) tax-sheltered annuity plans, and governmental 457(b) deferred compensation plans.

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