Services
Services
Corporate trustee
First State Trust Company's (“FSTC”) role as trustee is to perform its fiduciary responsibilities in the best interests of the plan participants and its beneficiaries. FSTC accepts the role of directed Trustee. As trustee, FSTC and its employees perform their duties as a fiduciary pursuant to our trust agreement and in accordance with ERISA.
First State Trust Company's (“FSTC”) role as trustee is to perform its fiduciary responsibilities in the best interests of the plan participants and its beneficiaries. FSTC accepts the role of directed Trustee. As trustee, FSTC and its employees perform their duties as a fiduciary pursuant to our trust agreement and in accordance with ERISA.
Custodian
As custodian, First State Trust Company’s (“FSTC”) services include safekeeping of assets, securities settlement, dividend & interest collection, corporate action processing, cash management and consolidated reporting of assets/transactions.
As custodian, First State Trust Company’s (“FSTC”) services include safekeeping of assets, securities settlement, dividend & interest collection, corporate action processing, cash management and consolidated reporting of assets/transactions.
Paying Agent/ Benefit Disbursing Services
First State Trust Company's paying agent / benefit disbursing service reputation results from our focus on:
First State Trust Company's paying agent / benefit disbursing service reputation results from our focus on:
- Superior service quality
- Experienced professionals anticipate and respond to client’s needs.
- Skillful execution and expert service delivery
First State Trust Company’s disbursing services include:
- Repetitive distributions
- Non-repetitive distributions
- State and federal tax withholding
- 1099-R filings
- Form 945 filings
- Physical check issuance or ACH transfers,
- Tax status reports
- Monthly pension registers
- Loan proceeds
- Periodic pension payroll payments
- Direct Payment of Plan Expenses (such as actuarial and administrative expenses)
- Pensioner Changes
- Stop Payments and re-issuances
- Electronic Funds Transfers (EFT)
- New Pensioner set-ups
24/7 Online Access
First State Trust Company’s secure online service allows clients to access real-time trust account information at their convenience. Clients can access up-to-date account holdings, market value, taxlot information, cash information, transactions, and pending trades. Clients may also retrieve and print audited account statements.
First State Trust Company’s secure online service allows clients to access real-time trust account information at their convenience. Clients can access up-to-date account holdings, market value, taxlot information, cash information, transactions, and pending trades. Clients may also retrieve and print audited account statements.
Experienced Trust Administration
In order to provide the highest level of service, we provide you with a single point of contact. A dedicated Trust Officer will be assigned to your account. First State Trust Company’s dedicated Trust Officers average over 17 years experience administering institutional clients and employee benefit plans.
In order to provide the highest level of service, we provide you with a single point of contact. A dedicated Trust Officer will be assigned to your account. First State Trust Company’s dedicated Trust Officers average over 17 years experience administering institutional clients and employee benefit plans.
