Trust Services: employer provided retirement plans | individual retirement accounts | trust

Our trust department offers a full range of trust services which include:

Institutional & Retirement Services

Personal Trust Services

Complete employee benefit plans, are offered with services including regulatory compliance, investment management, employee meetings, and any other assistance needed to make our clients more successful.

Establishing a trust with a corporate fiduciary provides professional investment management, protection in the event of incapacity, privacy and often an avoidance of probate,

For more information, call our trust departments at:

Devils Lake
Phone: (701) 662-5547 or 1-800-726-0124
Fax: (701) 662-8510
Fargo
Phone: (701) 280-2292 or 1-888-301-2292
Fax: (701) 298-8576

-return to top-

Employer Provided Retirement Plans

We can determine trust investment objectives, investment of trust funds, supervise and collect dividend and interest checks, and monitor investment ratings and values. The trust department also reports on trust assets on a periodic basis and provides annual summaries of trust transactions, schedules annual employee allocations, prepares annual participant's statements, summarizes annual reports to beneficiaries and prepares annual tax returns for the plan.

Prototype Plans
A prototype plan sponsored by Ramsey Bank can be started by any employer by merely signing an adoption agreement because the plan has already received approval from the Internal Revenue Service. Ramsey Bank has the responsibility for keeping the plan updated with new laws, regulations and court decisions.

We currently offer the following prototype plans:

  • Corporate Profit-sharing
  • Self-employed Profit-sharing (including Keogh Plans)
  • Simplified Employee Pension
  • Money Purchase Pension Plan

Customized Plans
An employer may have an attorney develop a plan meeting their specific needs. Our department can serve as trustee and assist the employer in administering the provisions of the plan.

-return to top-

Individual Retirement Accounts

An Individual Retirement Account remains a convenient method of saving for retirement years. Any individual with wages or self-employment income can contribute to an IRA.

New Investment Opportunity IRA's
Invest in real estate as well as individual stocks, mutual funds or certain gold, silver and platinum coins. Remember, you can change your investments at any time - these are investments you direct.

Trusteed IRA
Our Department may hold trusteed IRA's for which a tax-deductible fee is charged. You will have the added flexibility of investment in stocks, bonds, mutual funds, or any other product allowed under IRA investment guidelines.

-return to top-

Trust Investments
We provide professional investment services for all accounts to the extent requested. You can make all investment decisions, or direct us to do so according to your investment decisions.

Revocable Living Trusts
These trusts are set up and operated during the life of the individual and may allow the trust assets to avoid probate. Our department provides professional supervision of the trust assets, relieving the person establishing the trust of the burden of management details.

Trusts Created By Will
These are called testamentary trusts and come into existence upon the death of the person creating the trust. This trust makes estate distributions as directed by the deceased. When properly integrated with an estate plan, the testamentary trust can reduce estate and income taxes.

Other Types of Trusts
Charitable trusts, insurance trusts, land trust and minor's trusts are also available. They can have specialized uses thereby minimizing income and estate taxes for individuals.

Investment Agency Services
We provide Investment Services to buy and sell various assets such as stocks, bonds, CD's etc. If we have full investment discretion, you may also elect to have us manage your investments, knowing you will receive a complete statement of all assets and transactions.

Conservatorships
We have experience working with the courts and social service agencies to manage assets in the best interest of the minor or disabled person.

Executor or Administrator
Our knowledge of legal procedural rules and complex income and estate tax law will assist you in working with attorneys, accountants and the courts settling estates of all sizes.

*Securities purchased through Ramsey National Bank & Trust Co. are not insured by the FDIC or any other bank insurer, are not deposits or obligations of the bank, are not guaranteed by the bank, and are subject to investment risks, including the possible loss of principal.

-return to top-