Retirement Plans

We provide turn-key service from plan design, implementation, administration, recordkeeping and investments.  Our team of dedicated professionals handles all of your services with unparalleled commitment to service.  They are familiar with what sets your plan apart from others and will provide you with service tailored to your individual needs.


Your employees will benefit from BNC’s top quality participant services, with internet access to their accounts, quarterly newsletters and education meetings.  We offer a wide array of quality no-load mutual funds to meet the needs of your employees.


Our style is to be proactive rather than reactive, and centered on an attitude of entrepreneurship rather than bureaucracy. Our management philosophy is driven by an unyielding commitment to quality service and trust, and executing a business model that develops and rewards relationships.


401(k) Plans


Individual employee participants elect to defer a portion of their normal pay into this type of qualified retirement plan. The contributions are made with before-tax dollars and are treated as employer contributions to the plan. Employers typically match a portion of the employee’s contribution. The plan cannot discriminate in favor of highly compensated employees. At retirement or termination, the employee receives his or her vested percentage of the account balance.


Roth 401(k) Plans


This is a qualified retirement plan which is very similar to the standard 401(k) plan discussed above with one important exception.  Contributions to this plan are NOT excluded from the employee’s gross income in the year of contribution. The contributions and future growth will be tax free upon withdrawal if certain conditions are met.


Profit Sharing Plans


This qualified retirement plan allows an employer to share its profits with employees in a tax-deferred environment. The formula for determining the amount of profits shared is at the discretion of the employer. The plan cannot discriminate in favor of highly compensated employees. At retirement or termination, the employee receives his or her vested percentage of the account balance.


Defined Benefit Plans


This is a qualified retirement plan under which a retired employee is paid a monthly benefit based upon a formula using years of service, compensation or both. The monthly retirement benefit is defined in the plan. The annual contribution is determined by an actuary and will vary depending upon the performance of the plan’s assets and the changes in compensation. The investment risk stays with the employer. If the investments have rates of returns less than anticipated by the actuary, the employer will have to increase its annual contribution to the plan.
 

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Apply online, visit a local branch, fill out a contact us form and a banking representative will contact you, or call us at 1-800-BNC-BANK (1-800-262-2265).

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