Retirement Plan Information
Total(k) - 401(k) and Roth 401(k)Total(k)® is the self-directed 401(k) exclusively offered by American Pension Services. This plan provides the maximum investment flexibility allowed by law, combining full diversification with all the benefits of a traditional/Roth 401(k).

A 401(k) plan is a qualified plan under which an employee can elect to have the employer contribute a portion of the employee’s cash wages to the plan on a pre-tax basis. These deferred wages (elective deferrals) are not subject to federal income tax withholding at the time of deferral, and they are not reflected as taxable income on an individual’s income tax return. 401(k) plans are permitted to allow employees to designate some or all of their elective deferrals as “Roth elective deferrals” that are generally subject to taxation under the rules applicable to Roth IRA’s.  Open Account
Traditional IRAAn Individual Retirement Arrangement, or IRA, is a personal savings plan which allows you to set aside money for retirement, while offering you tax advantages. You may be able to deduct some or all of your contributions to your IRA. IRA's cannot be owned jointly. However, any amounts remaining in your IRA upon your death can be paid to your beneficiary or beneficiaries. To contribute to a traditional IRA, you must be under age 70 1/2 at the end of the tax year. *   Open Account
Roth IRAA Roth IRA is an account set up in the United States solely for the benefit of you or your beneficiaries. It is an individual retirement arrangement. However, it differs from traditional IRAs in that contributions are not deductible. Roth IRA's cannot be owned jointly, however, any amounts remaining in your Roth IRA upon your death can be paid tax-free to your beneficiary or beneficiaries. To contribute to a Roth IRA, you can be any age. *   Open Account
SEP IRAA SEP is a Simplified Employee Pension plan. Under a SEP, the employer, makes contributions to traditional IRAs (SEP-IRAs) set up for each eligible employee. A SEP is funded solely by employer contributions, each employee is always 100% vested in (or, has ownership of) all money in his or her SEP-IRA, the employer must adopt a SEP plan document, and generally cannot have any other retirement plan. *   Open Account
SIMPLE IRAA SIMPLE IRA plan is a Savings Incentive Match Plan for Employees. A SIMPLE IRA Plan is funded both by employer and employee contributions. Each employee is always 100% vested in (or, has ownership of) all money in his or her SIMPLE IRA. It is ideally suited as a start-up retirement savings plan for small employers who do not currently sponsor a retirement plan. *  Open Account
Coverdell ESAA  Coverdell Education Savings Account (ESA) is an account created as an incentive to help parents and students save for education expenses. A beneficiary is someone who is under age 18 or is a special needs beneficiary. Contributions to a Coverdell ESA are not deductible, but amounts deposited in the account grow tax free until distributed.  The beneficiary will not owe tax on the distributions if they are less than a beneficiary’s qualified education expenses at an eligible institution. This benefit applies to qualified higher education expenses as well as to qualified elementary and secondary education expenses. *   Open Account
HSAA Health Savings Account (HSA) is a tax-exempt trust or custodial account that you set up to pay or reimburse certain medical expenses you incur. You must be an eligible individual to qualify for an HSA. The HSA can be established through a trustee or custodian that is different from your health plan provider. To be an eligible individual and qualify for an HSA, you must be covered under a high deductible health plan (HDHP) on the first day of the month for which a contribution is made. You must have no other health coverage except what is permitted by the IRS; you are not enrolled in Medicare; and you cannot be claimed as a dependent on someone else's tax return. Any eligible individual can contribute to an HSA. For an employee's HSA, the employee, the employee's employer, or both may contribute to the employee's HSA in the same year. For an HSA established by a self-employed (or unemployed) individual, the individual can contribute. Family members or any other person may also make contributions on behalf of an eligible individual. *   Open Account