Retirement Plan Experts

Your goals are our priority

Meet the team guiding you toward retirement

Planning for retirement requires active engagement today. Our experts focus on your destination and create a path to lead you there, while remaining flexible and attentive to your changing needs and situation.

Mark Bouckaert, CPA, ERPA
Vice President
Retirement Plan Consultant
(847) 586-2031
MBouckaert@firstambank.com

Mark is a consultant for all types of qualified retirement plans, including 401(k), profit sharing, ESOP, defined benefit and cash balance plans. Mark joined First American Bank in 1996 and has extensive experience with plan design, recordkeeping, administration, compliance testing and correcting plan errors. In addition, Mark is enrolled to represent clients before the Internal Revenue Service as an Enrolled Retirement Plan Agent. Mark received his Bachelor of Science degree in Accountancy from the University of Illinois. He is also licensed in casualty insurance.

Tracy Childs, CPA
Assistant Vice President
Defined Contribution Consultant
(847) 586-2033
TChilds@firstambank.com

Tracy has over 30 years of extensive experience with defined contribution plan design, recordkeeping, administration, compliance testing and correcting plan errors. Tracy received her Bachelor of Science degree in Accountancy from the University of Illinois and is a member of the Illinois CPA Society.

Charlie L. Clark III, QPA, QKA, QPFC
Retirement Plan Consultant
(847) 586-2029
CClark@firstambank.com

Charlie is a consultant for all types of qualified retirement plans, including 401(k), profit sharing, and cash balance plans. Charlie has over 25 years combined experience in plan design, administration, compliance, recordkeeping and fiduciary reviews. Prior to joining First American Bank in 2020, Charlie was a Retirement Plan Specialist Team Manager with CliftonLarsonAllen. In addition, Charlie was a Plan Administrator and Team Manager with The Benefits Consulting Group. Charlie has a Bachelor of Science in Business from Embry Riddle University and is an active member of The American Society of Pension Professionals and Actuaries (ASPPA) holding the designations of Qualified Plan Administrator (QPA), Qualified 401(k) Plan Administrator (QKA) and Qualified Plan Financial Consultant (QPFC).

John Ellis, QKA
Vice President
Qualified Plan Consultant and Relationship Manager
(847) 403-8054
JEllis@firstambank.com

John has been a benefits professional for over 20 years. Prior to joining First American Bank in 2003, he worked for Weiss Group, Lincoln Financial and Hewitt Associates. John received his Bachelor of Science degree in Business Administration from the University of Western Illinois, where he majored in Finance and minored in Economics. He has also earned the Qualified 401(k) Administrator (QKA) credential from the American Society of Pension Professionals and Actuaries.

Lindsey Gula
Assistant Vice President
Defined Contribution Consultant
(847) 586-2039
LGula@firstambank.com

Lindsey has been a benefits professional for over 15 years with First American Bank. She administers defined contribution plans, which include 401(k), profit sharing and ESOP plans. She has extensive experience with plan design, recordkeeping, administration, compliance testing and correcting plan errors. Lindsey received her Bachelor of Science degree in Actuarial Science and Finance from North Central College in Naperville, IL.

Adam Hohs, QKA
Vice President
Defined Contribution Manager
(847) 586-2052
AHohs@firstambank.com

Adam joined First American Bank in 2009 and has extensive experience with defined contribution plan design, recordkeeping, administration and compliance testing. Adam received his Bachelor of Science degree in Economics from Illinois State University. He has also earned the Qualified 401(k) Administrator (QKA) credential from the American Society of Pension Professionals and Actuaries.

George Karegeannes
Vice President
Retirement Plan Consultant Manager
(847) 586-2030
GKaregeannes@firstambank.com

George has over 20 years of experience in the employee retirement benefits field working with both qualified and non-qualified retirement plans. He has extensive experience with plan design, recordkeeping, administration, compliance testing and investment management. Prior to joining First American Bank in 2020, George was a Client Services Manager with Newport Group, where he led a team of representatives who served over 300 clients and exceeded $3 billion in assets under management. In addition, George was a relationship manager with Johnson Bank in Wisconsin, where he was responsible for new business development and ongoing relationship management. He has a degree in Business Administration from University of Wisconsin – Milwaukee and is a Certified Retirement Services Professional (CRSP).

Daniel O’Connor, QKA, QPA
Vice President
Defined Contribution Senior Manager
(847) 403-8052
DOconnor@firstambank.com

Dan has been a benefits professional for over 20 years. Dan specializes in our fully bundled retirement plan solution, encompassing all aspects of plan administration, investment management, participant education, recordkeeping, plan design and compliance. Dan received his Bachelor of Science degree in Business Administration from the University of St. Francis in Joliet, where he majored in Finance and minored in Economics. He has also earned the Qualified 401(k) Administrator (QKA) credential and the professional credentials of Qualified Pension Administrator (QPA) from the American Society of Pension Professionals and Actuaries.

Victoria Pelletiere
Vice President
Defined Benefit Manager
(847) 586-2048
VPelletiere@firstambank.com

Vicky is responsible for the annual administration of the defined benefit plans, including cash balance plans. Vicky has over 25 years of experience in defined benefit plan administration and represents clients before the Internal Revenue Service, the Department of Labor, and the Pension Benefit Guaranty Corporation. In addition to defined benefit work, she is knowledgeable in defined contribution plans, combination plans, and general nondiscrimination testing. Vicky received her Bachelor of Science in Mathematics from Loyola University Chicago. She is enrolled with the Joint Board for the Enrollment of Actuaries, a Member of the American Academy of Actuaries, and a Fellow of the American Society of Pension Professionals and Actuaries.

Ryan Phillips
Assistant Vice President
Defined Contribution Manager
(847) 586-2081
RPhillips@firstambank.com

Ryan has been administering 401(k) and profit sharing plans with First American Bank since 2010. He has extensive experience with recordkeeping, administration, compliance testing and plan asset conversions. Ryan received his Bachelor of Science in Finance from the University of Illinois at Urbana-Champaign.

Arthur J. Plonka, ERPA, QPA
Defined Contribution Plan Manager
(847) 586-2069
APlonka@firstambank.com

Arthur has been a benefits professional for over 25 years. He has extensive experience with recordkeeping, administration, compliance testing and plan asset conversions. Arthur received his Bachelor of Science degree in Accountancy from Northern Illinois University. He has also earned the Qualified Pension Administrator (QPA) credential from the American Society of Pension Professionals and Actuaries. In addition, Arthur is enrolled to represent clients before the Internal Revenue Service as an Enrolled Retirement Plan Agent (ERPA).

Lisa Solliday, CPA
Vice President
Retirement Plan Consultant
(847) 586-2036
LSolliday@firstambank.com

Lisa is a consultant for all types of qualified retirement plans, including 401(k), profit sharing, ESOP, defined benefit and cash balance plans. Lisa joined First American Bank in 1991 and has extensive experience with plan design, recordkeeping, administration, compliance testing, correcting plan errors and fiduciary compliance. Lisa received her Bachelor of Science degree in Accounting from Indiana University and is a member of the Illinois CPA Society.

Patricia Spiegel, ERPA, QPA
Vice President
Legal Manager
(847) 586-2053
PSpiegel@firstambank.com

Patty joined First American Bank in 1997 and has extensive experience in plan design, documentation, due diligence reviews, and government correction programs. In addition, Patty is enrolled to represent clients before the Internal Revenue Service as an Enrolled Retirement Plan Agent and represents clients before the Department of Labor on retirement plan matters. She also holds the professional credentials of Qualified Pension Administrator (QPA) from the American Society of Pension Professionals and Actuaries.

Yvette Witteck
Senior Vice President
Retirement Plan Services Department Head
(847) 586-2055
YWitteck@firstambank.com

Yvette is the head of the Retirement Plan Services Group. She has over 25 years of experience with First American Bank. She has extensive experience with plan design, recordkeeping, administration, compliance testing and the correction of plan errors. Yvette is also a member of the American Society of Pension Professionals and Actuaries.

First American Bank is a full-service bank with branches in Illinois, Wisconsin and Florida.

Disclosures

Not FDIC Insured | Not Bank Guaranteed | May Lose Value | Not Guaranteed by Any Government Agency | Not a Bank Deposit

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Our Team

The IRS requires 20% withholding on all qualified plan distributions eligible for rollover to an IRA or another qualified plan. You will report the distribution as ordinary income on your personal tax return. Depending on your personal tax bracket, you may be required to pay additional taxes on the distribution or you may be entitled to a refund. If the additional amount of tax due is substantial, you may be required to make estimated tax payments. You may also be required to pay state income taxes. You should consult your personal tax advisor before making decisions regarding your distribution.

Prior to 2020, you were required to start taking Required Minimum Distributions (RMDs) by April 1 of the year following the year in which you attained age 70 ½. That rule still applies if you attained age 70½ by the end of 2019. Once you are required to begin taking RMDs, you must continue. For 2020, the SECURE Act increased the age to begin RMDs to age 72. The same April 1st deadline applies. Thereafter, you must take RMDs annually on or before December 31. Note, two required distributions will be issued your first year if you wait until the period January 1 to April 1 to begin your RMDs. You may avoid two taxable distributions in the first year by taking your first withdrawal on or before December 31 of the year in which you attain age 72.

However, if you are still working, you are not required to begin RMDs from your employer sponsored plan until April 1 of the year following the year in which you terminate employment. This exception does not apply if you own more than 5% of the employer, nor does it apply to IRAs.

Special Note: For 2020 the CARES Act temporarily suspended the RMD requirements from IRAs and qualified retirement plans provided the employer sponsoring the plan adopts the CARES Act provisions. Check with the sponsor of your retirement plan to confirm if you must take an RMD for 2020.

The annual deferral may not exceed the lesser of:

a. $19,500 for 2021;

b. the maximum deferral amount allowed under the terms of the plan; or

c. the amount that allows the plan to meet the required nondiscrimination tests.

In addition, if you attain age 50 or older by December 31, you may defer an additional $6,500 catch up contribution.

If a plan accepts rollover distributions from other qualified plans, it may also allow for employees to make a rollover contribution before they meet the plan's minimum age and service eligibility requirements. These employees would be considered 'limited participants' in the plan.

Yes, the additional 10% tax applies, with limited exceptions. Exceptions include distributions that are made to a participant after termination of employment after attainment of age 55, distributions that are attributable to an employee being disabled, and distributions that are made to cover deductible medical expenses.

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