Business Services
Building a retirement plan for your business doesn’t have to be complicated. The right plan can strengthen your team, attract new talent, and give employees the security they need to focus on their work today. At 1st Source Bank, we’ve been helping local businesses for more than 160 years. Our retirement plan consultants sit down with you, get to know your goals, and provide guidance you can count on.
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A service-first model
Work with a local consultant who knows your business, answers questions, and helps coordinate plan support.
Receive guidance on investment selection and monitoring to help manage plan responsibilities with greater clarity.
Give employees access to in-person education that helps them understand the retirement benefit you provide.
Many employers come to us after dealing with limited service, unclear costs, or difficulty getting answers. We take a more personal approach.
Your dedicated Retirement Plan Consultant will provide upfront information, ongoing plan reviews, employee education, and responsive support. Backed by a locally owned financial institution with deep regional roots, our team combines extensive retirement plan expertise with personalized service and local decision-making.
As your company grows, plan decisions become more important. A strong retirement plan can help your business attract talent, reward long-term employees, and support workforce stability.
1st Source is here to help business owners, CFOs, controllers, and HR leaders plan and manage their plan needs with clear guidance and ongoing service.
Design, education, & service
Your 401(k) plan can include traditional pre-tax and Roth after-tax contribution options. We help you consider features that fit your company, employees, and long-term goals.
Your dedicated Retirement Plan Consultant serves as a central point of contact for your plan. That means fewer handoffs, clearer answers, and less time spent figuring out who to call.
We stay involved with regular reviews and ongoing conversations as your business and workforce needs change.
We explain plan costs up front, including what the employer pays and what participants may pay through the plan.
When an independent plan audit is required, we help manage the process and collaborate with your chosen auditor.
Absolutely. Many larger companies combine a 401(k) with profit-sharing to provide flexibility. Employees can contribute to their retirement while employers reward performance or profitability. This structure is popular in industries with seasonal or cyclical revenue patterns, such as advanced manufacturing.
Our plans adapt as you expand. We can adjust contribution structures, add automatic enrollment, and offer investment choices that fit a broader workforce. Whether you have 50 employees or 500, we’ll design a plan that evolves with your company.
Many mid-sized manufacturers choose a 401(k) plan with matching contributions. It helps retain skilled workers in a competitive market and provides flexibility for both employer and employee contributions. For companies facing industry uncertainty, a discretionary match can provide flexibility and control to an employer contribution.
In technology, where employee turnover can be high, retirement benefits make a big difference. A strong 401(k) plan with a match or an early vesting schedule signals that you’re invested in your team’s future. Coupling the plan with financial education also helps employees feel more confident about their benefits.
Please note that the retirement plans we offer are not deposits or obligations of the financial institution, may lose value, are not insured by the Federal Deposit Insurance Corporation (FDIC) or any other agency or instrumentality of the federal government, and are not guaranteed by the financial institution.
