Trust Company of Illinois.
A Focus on the Future
Trust Company of Illinois was founded in 1993 on the belief that our clients' needs come first. As a trust company chartered by the Illinois Department of Financial and Professional Regulation, we provide our clients with white-glove service. Our personal trust services include trust and estate administration; we also offer qualified retirement plans.
Personal Trust Services: Strengthening family bonds.
Trust and estate services is so much more than simply planning for an ultimate transfer of wealth. By carefully crafting, formalizing, and administering wealth allocation plans, family relationships are strengthened, and conflicts minimized.
As a corporate fiduciary, Trust Company of Illinois assists families transition their wealth and puts clients’ interests first. We proudly serve families along life’s journeys and provide client-centric support throughout the generations.
TRUSTEE
You may be ready to outsource the administrative tasks that come with the position of trustee. By choosing Trust Company of Illinois as trustee, you and your loved ones gain the experience of a professional fiduciary while avoiding the personal liability and potential problems that may occur when selecting a non-professional.
CO-TRUSTEE
For some families, the right trustee relationship includes a family member and the Trust Company of Illinois serving as co-trustees. This partnership allows for family involvement with the added assurance of a professional’s knowledge, objectivity and oversight.
AGENT FOR TRUSTEE
You may want to retain the decision-making authority granted to you through a trust. By naming the Trust Company of Illinois as agent for trustee, you retain the control you desire but outsource the daily work in managing a trust account. As agent for trustee, we follow the instructions and decisions made by you as trustee and perform the complex duties of administering the trust account.
SUCCESSOR & FUTURE TRUSTEE
If you have created a testamentary trust or are serving as trustee for your own revocable trust, selecting the Trust Company of Illinois as a successor or future trustee provides a safety net. We will stand by, ready to deliver professional administrative services to you and your beneficiaries.
EXECUTOR OF ESTATE
By naming the Trust Company of Illinois as executor or co-executor with a family member, we carefully shepherd your estate from the moments immediately following death through the probate process. We take over the estate tasks and responsibilities that weigh heavily on individuals and families wading through an already difficult time of transition.
Retirement Plan Services Made Simple
A comprehensive retirement program can differentiate a business and be invaluable in attracting and retaining talent. That’s where Trust Company of Illinois steps in. We provide renowned retirement plan services that are simple, adaptive and attuned to the financial needs of employees. In turn, our clients can focus on their core business.
Change is constant. So is our commitment to excellence. We understand what business owners, executives and employees expect from their retirement plans and are dedicated to implementing progressive design, administration, compliance, recordkeeping, investment management and employee education.
DIVERSE GOALS FOR DIVERSE CLIENTS
At Trust Company of Illinois, nurturing deep client relationships is the foundation for our service model. We excel at understanding the needs of small- and mid-sized businesses and pride ourselves on our boutique approach — each client has one advisor who is keenly familiar with their individual circumstances. We are not just responsive to those needs — we aspire to anticipate them.
OUR RETIREMENT PLANNING PROCESS
Our retirement plans are as diverse as the companies we serve. Implementing the right plan with the right features is crucial. Many service providers handle only a portion of retirement programs, but Trust Company of Illinois takes a holistic approach. Our team uses return expectations, risk tolerances, income needs and timelines as guard rails for determining the right asset mix.
WE BEGIN BY CONDUCTING A GOALS-BASED EXERCISE, ASKING QUESTIONS INCLUDING:
What goals does the company have for employee retirement, i.e., age, income, etc.?
Is there a specific audience whose contributions should be maximized?
Should employee contributions be encouraged through education-based programming?
Is there an opportunity to redesign the current retirement plan to reduce costs?
Investment Platform
To provide the utmost level of fiduciary protection and enhanced employee options, we offer a variety of investment platforms based on the level of client engagement. We operate as an ERISA investment manager for defined benefit plans and employer-directed profit-sharing plans.
Additionally, we generally include three levels of investment offerings for participant-directed defined contribution plans:
Do-It-Yourself: Roster of Mutual Funds
Ideal for employees who prefer managing their own portfolios, TCI provides a well-rounded selection of carefully monitored mutual funds.
Professionally Managed: Guided Portfolios
For employees who understand their level of risk, but prefer professional oversight by experienced professionals, TCI offers four risk-based, globally diversified, asset allocation portfolios, managed by HT|TC Wealth Partners.
Professionally Managed: Target Date Funds
Appropriate for employees who are unsure of their appropriate risk level, these age-based funds’ risk automatically decreases risk levels as they near retirement.
A true fiduciary partner
Trust Company of Illinois assumes the fiduciary investment manager and advisor per ERISA Sections 3(38) and 3(21), taking on the responsibility of evaluating, selecting, and monitoring investment options for retirement plans. Our oversight helps to ensure that a qualified plan offers an appropriate menu of investment options based on employees’ circumstances, goals and risk tolerance. Our team of dedicated investment professionals conducts quantitative and qualitative research to help ensure that investment vehicles serve their designated purpose in a portfolio. We have formed strategic alliances with research partners to broaden the depth and breadth of the investment opportunities available to clients. Not only do we monitor investments and adjust plans as necessary, but we also engage with employees and assess their financial behavior to identify a clear plan.
For partners and owners
Contributing to a qualified retirement plan can offer many benefits. Through our offerings, owners of small- to mid-sized businesses can optimize savings, tax benefits, and asset protection. Well-designed retirement plans can enable business owners and senior employees to make relatively high contributions on a pre-tax and/or Roth basis (up to $61-$300K/year) and reap the benefits. We employ a variety of strategies to design retirement plans that are appealing to both the business and its employees such as profit-sharing contributions, typically in addition to 401(k) contributions. An age-based allocation method, for example, allows owners to increase their total contributions up to $61k ($67,500 if over age 50) per partner while minimizing employee contributions. This approach is ideal when owners are older than the majority of employees. Our ultimate goal is to implement plans that promote the goals of all parties, ultimately fostering a positive corporate culture.
Trust services and retirement plan services are provided by the Trust Company of Illinois, a trust company chartered by the Illinois Department of Financial and Professional Regulation.
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