Safe Harbor IRA Program

The Bancorp Bank’s Safe Harbor IRA Program offers an innovative alternative to the high administrative costs incurred by retirement plans on behalf of nonactive plan participants.

Using advanced customized technology, our Safe Harbor IRA Program enables plans to automatically and easily move terminated or abandoned 401(k) accounts of former employees directly to The Bancorp Bank, and then to transfer those funds to FDIC-insured money market accounts offering competitive market rates.

The accounts are easily extracted from the plan while allowing former employees (nonactive participants) to earn interest, enjoy FDIC protection and protect their funds for retirement. And, in terms of the sensitive framework of the fiduciary relationship itself, this is a safe selection for the plan fiduciary, meeting all criteria for due diligence.

The process itself is streamlined, because we work with the best “rollover” partners in the business. As leading experts in the area, they have in-depth knowledge of the regulatory climate, including any and all IRS mandates. They, like Bancorp, are committed to fully automated solutions, and provide equivalent levels of technological sophistication. It’s a strong, proven partnership.

For more information, contact:

James F. Liberi

Vice President

Director of Institutional Sales

215.861.7800

jliberi@thebancorp.com