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Southern Heritage Bank is a division of FIRST CITIZENS NATIONAL BANK

401(k) Safe Harbor Retirement Plans


401(k) Safe Harbor Retirement Plans help employees invest and save while maximizing the employer’s contribution to their own accounts.     

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The Safe Harbor 401(k) plan is similar to other 401(k) retirement plans, but allows employers to contribute more to their own accounts while reducing some limitations associated with complying to IRS non-discrimination testing.
  • Tax-deferred savings for employees
  • Eliminates the need for non-discrimination testing
  • Gives employees the opportunity to save more
  • Allows more investment choices
  • Employer may take tax deduction of up to 25 percent of total compensation for eligible employees
Annual contribution limits may apply
  • $5 monthly fee if average balance is below $7,500
  • $4.99 monthly fee for online banking
  • $9.99 monthly fee for online banking with bill pay
  • Small fee of $.10 per item for each debit over 100
  • Balance requirement fee and per item fee for debits paid are waived for non-profit organizations

What our
customers say

You’re a person here, not a number. The people here know who you are when you walk in the door and treat you like family.

– First Citizens National Bank customer