Business Services

Unlike most local banks, F&M Trust has an employee benefits specialist who can help develop programs that add value for your employees by enhancing retention as well as your ability to attract talent.  Our Employee Benefits Specialist, a Qualified 401(k) and pension administrator, can help you select the programs that best fit your company or organization including:

401(k) Plans  – Offering a 401(k) plan for your employees is a huge benefit and encourages them to save early and regularly toward their retirement.  We can help establish a plan, assist in selecting investment options, introduce to your organization, and maintain your plan.

Profit Sharing and Pension Plans – Offer your employees an additional benefit with a pension or profit sharing plan for your business.  We can assist with flexible plans that offer variable contribution options designed to reward long-term employees with tax-deferred growth. Working with you, we can make creating and maintaining a realistic retirement program easy, efficient and affordable.

Employee Stock Ownership Plans (ESOP) – ESOPs are complex with numerous rules and requirements that are distinct from other qualified plans. Our employee benefit specialist will serve as consultant and administrator, providing the ESOP plan sponsor with expertise and experience to manage the plans.

SIMPLE IRAs – SIMPLE IRAs enable employers to offer an easy and affordable salary deferral plan for employees, and generally work well for companies with 25 or fewer employees. A SIMPLE IRA allows employers to offer a salary deferral plan minus the cost or administrative responsibilities associated with traditional 401(k) plans.  Let our employee benefit specialist help you determine if this plan is best for your business.

SEP IRAs – A Simplified Employee Pension (SEP) enables small business owners to make tax-deductible contributions with a flexible plan that is easy to set up and maintain. A SEP plan may work well if you want a low-cost, easy-to-maintain retirement plan for you and your employees. If you have employees, you may be required to contribute for them as well.  Both SEP IRA and Traditional IRA contributions can be made to the same account, and you have the flexibility to change how much your business contributes from year to year.

Deferred Compensation – We can help you navigate the opportunities to enhance and attract top quality employees to your company or organization in a cost effective manner.

403(b) Plans  – The equivalent of a 401(k) plan for non-profit organizations, 403(b) plans are a benefit for your employees and encourages them to save early and regularly toward their retirement.  We can help establish a plan, assist in selecting investment options, introduce to your organization, and maintain your plan.

Health Savings Accounts – Heatlh Savings Accounts (HSAs) give you the control to do exactly what you want with your healthcare dollars – and the flexibility to change as needed.  HSA offers an FDIC-insured interest bearing deposit account with a tier rate of interest as the balance in your deposit account grows.

Whether your goal is to save and invest your money for the future, or take advantage of tax savings to pay for qualified medical expenses now, an HSA can make it easy to manage and access. When you have regular healthcare expenses, the HSA provides an easy way to manage funds going in and out of your account. To pay for qualified medical expenses, simply present your Health Savings Account debit card to your provider and money will be deducted directly from your HSA. Withdrawals are tax-free as long as they are used to pay for qualified medical expenses. It's your responsibility to determine whether expenses qualify as eligible for tax-free distribution. Typically, all medical, dental, and vision expenses, as well as chiropractic visits, are eligible expenses. And keeping track of your HSA balance is easy. Talk with our EB specialist about HSAs.

Flex Spending Accounts – A Flexible Spending Account, also referred to as a Flex Spending Account or FSA, is an employer-provided benefit that allows employees to contribute a set amount from their paycheck in order to cover out-of-pocket medical, dental, and vision expenses such as health insurance co-pays. Through regular payroll deductions, employees set aside money that is exempt from federal, state, and payroll taxes.  These "pre-tax" dollars enable employees to reduce out-of-pocket medical expenses. Our experienced Employee Benefit Specialist can assist with a Flexible Spending plan design, regulatory compliance, and plan administrative services. 

Insurance – We offer a variety of insurance options for your business including voluntary health and life insurance, voluntary disability and dental insurance, group health and life insurance, group disability insurance, and long-term care insurance.

Click here for more on our insurance options.


For more information on insurance solutions for your business or to schedule a no-obligation appointment to discuss your financial goals with our Employee Benefits Specialist, call (717) 264-6116 or (888) 264-6116.