Today, business moves at a fast speed. Small to midsize companies, understandably, can often be overwhelmed by the choices and requirements in choosing a retirement plan. Still, good, dependable employees who’ve helped make your business a success are often lured away to larger companies with more to offer. It is a myth that bigger is better, and we can prove it.
There are several ways to provide a way for your employees to save for their retirement nest egg. And we can help you to understand exactly which type of plan will work best for you and your workers. Because every business is different, with different resources and needs. Call us for a consultation.
Retirement Options include:
- IRA Based Plans- Payroll Deduction IRAs, SARSEPs, SEPs, and SIMPLE IRA Plans are "No Fuss" plans that range from those with little employer involvement to those that the employer establishes and funds. An IRA is the most basic sort of retirement arrangement. People tend to think of an IRA as something that just individuals do (hence the “I” in IRA). But an employer can help its employees to set up and fund their IRAs. With an IRA, what the employee gets at retirement depends on the funding of their IRA and the earnings (or income) on those funds.
- IRC 401 (k) Plans- IRC 401(k) plans are the most popular type of retirement plan used today. 401(k) plans are available to all employers of any size ...making a basic understanding of their pros and cons vitally important. They can be a powerful tool in promoting financial security in retirement and are a valuable option for businesses considering a retirement plan, providing benefits to employees and their employers. See 401 (k) Resource Guide
- IRC 403 (b)/457 Plans- IRC 403(b) Tax-Sheltered Annuity plans are available to certain schools, churches, hospitals and tax-exempt organizations. IRC 457 plans are deferred compensation plans for state and local governments and tax-exempt organizations. See 403 (b) Resource guide
- Designated Roth Accounts in 401 (k) and 403 (b) Plans- Although designated Roth accounts are not a type of plan, they are a feature now available in 401(k) and 403(b) plans. Learn more about designated Roth accounts. See Designated Roth Resource Guide
Contact us via email or phone to discuss your retirement plan options. We offer free consultation to help you evaluate which design(s) will most adequately meet your retirement plan objectives.
