Today is
ATM Locations
Credit Cards

Profit Sharing

You would like to be able to provide your employees with a sensible and practical retirement plan.  But you're busy running a business - the last thing you need is more paperwork and government regulations to worry about.

The Trust Department of First National Bank & Trust Co. of Williston can help.  We have years of experience in dealing with retirement plans, access to new rulings as they appear, and the technology and expertise to simplify the process for you.

A First National Bank 401(K) Plan is a Profit Sharing Plan available to businesses which allows employees to make tax deferred contributions to their retirement plan.

Employees choose whether and how much they wish to contribute, typically between 1% and 15% of annual compensation.  These pretax deductions are withheld from each paycheck and invested as directed by either the plan sponsor or the individual participant.

In most plans, the Plan Sponsor will make a matching contribution, usually 50% of the employee's contribution.  Matching contributions tend to encourage participation, but are not required.  The company may, in its discretion, choose to make an additional profit sharing contribution to the plan in any year.

The funds in the plan, and the accumulated earnings, are not taxed until withdrawal.


  • Employees can accumulate a potentially sizable retirement account from contributions and return on investments

  • Compounded earnings are tax-deferred

  • Contributions are not taxed as income to the employee until they are withdrawn

  • All contributions made on behalf of employees are tax-deductible expenses for the company


Employee benefit plans can be complex.  The tax law sets forth numerous rules, regulations, and requirements with which all retirement plans must comply.  We can substantially ease the burdens of compliance with the Revenue Code's requirements.

As trustee of your 401(K) plan, we will:

  • Provide the IRS-approved plan documents

  • Ensure that your company's plan complies with all pension law requirements

  • Hold and invest plan assets pursuant to the investment program we have established with you

  • Collect all plan investment income and make all benefit payments

  • Maintain all records regarding the plan's assets

  • Undertake government reporting and make required disclosure to participants

[ Home | Products | Services | Rates | ATM Locations | Credit Cards | Links | Sitemap ]
Privacy PolicyDesign & Hosting by Harland Financial Solutions, Inc. Browser Requirements Copyright D+H All Rights Reserved.
Each depositor is insured to at least $250,000 and backed by the full faith and credit of the United States Government