The Trust Department at Texas State Bank offers I.R.S. approved retirement plan documents for use by employers. Profit Sharing Plans, 401(K) Plans and Money Purchase Pension Plans are offered to provide you and your employees the maximum potential advantages. As Trustee of your company's retirement plan, we maintain possession of the funds, make investments, keep investment records, and value each employee's account. Employee and government reporting, such as Forms 1099-R and 5500 C/R, are coordinated with the company accountant to meet all necessary deadlines and requirements.

Individual Retirement Accounts
If you want your I.R.A. to invest in more than local Certificates of Deposit, the Trust Department at Texas State Bank can set up a "Self Directed" I.R.A. to invest in virtually anything you want which is allowed by law. For example, we subscribe to a national computer network, which allows us to shop C.D. rates throughout the country and to generally find fully insured C.D. rates much higher than in the local market. Our reasonable fee is almost always covered by improved earnings. A variety of other investment options are available, including stocks, bonds, and mutual funds.

Simplified Employee Pensions/SIMPLE Plans
Like company sponsored plans, S.E.P.s cover eligible employees as well as the owner of the business. The Trust Department can set up I.R.A. accounts for each employee who receives a contribution from your S.E.P. or SIMPLE and allow each employee to direct his/her own investments and receive his/her own trust reports.

Employee Benefit and Retirement Services (PDF)
Prohibited Transactions Disclosure for Qualified Retirement Accounts (PDF)

For more information on the above products or any other trust related issues, please call Joe Payne, Rhea Cooke or David Vann in the Trust Department at 944-7528, drop by our office, e-mail, or fax the Trust department directly at 949-0480. Office hours 9am-5pm Monday-Thursday and 9am-5:30pm Friday.