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Unlike a traditional pension plan, where the company contributes all or most of the money for you, your company may give you the opportunity and responsibility to build up retirement investments with a 401(k) plan. You must decide to:
First you need contributions. There are three basic types of contributions that can be made to a 401(k) plan:
In addition, you may be able to roll over 401(k) or other plan funds from a previous employer or from an IRA.
After contributions (and any rollovers from other plans) are made, the funds are invested. You'll need to decide how your funds are to be invested and how you will monitor them once they are invested. See the section Managing Your 401(k) Plan Investments.
Your money stays in the plan unless you borrow from the plan or take a withdrawal. You need to identify a beneficiary.
Securities and Investment Advisory Services are offered through LPL Financial, a Registered Investment Advisor, member FINRA/SIPC. Insurance products are offered through LPL Financial or its licensed affiliates. Heartland Planning Associates is a trade name of Heartland Bank. Heartland Bank and Heartland Planning Associates are not a registered broker/dealers and are not affiliated with LPL Financial. The investment products sold through LPL Financial are not insured Heartland Bank deposits and are not FDIC insured. These products are not obligations of Heartland Bank and are not endorsed, recommended or guaranteed by Heartland Bank or any other government agency. The value of the investment may fluctuate, the return on the investment is not guaranteed, and loss of principal is possible. The LPL Financial representatives associated with this website may discuss and/or transact securities business only with residents of the following state: Ohio. Check the background of investment professionals associated with this site on FINRA's BrokerCheck.
|Not Insured by FDIC or Any Other
|Not Bank Deposits or