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Employee Benefit Accounts

An employee benefit account is a profit-sharing, 401(k), pension plan or SEP arrangement for corporations or a Keogh account for self-employed individuals. These accounts provide options for setting aside funds for retirement for employees of a business or a self-employed individual.

The Guaranty Bank Trust Department, as trustee, in conjunction with selected experts in the field, provides the following services for employee benefit accounts:

  • Delivery of IRS-approved plan documents to establish an account
  • Investment of plan contributions in accordance with carefully defined objectives
  • Delivery of statements to plan participants indicating vested balances of accounts
  • Distribution of funds to participants upon retirement, termination of employment or disability
  • Preparation of Form 1099R for submission to the IRS and plan participants