Plan Solutions for Growing Businesses
Retirement Plans
Flexible, tax-advantaged retirement programs designed around your workforce and business goals.
Why Start a Retirement Plan?
Starting a retirement savings plan can be easier than most business owners think. What's more, there are a number of retirement programs that provide tax advantages to both employers and employees.
Experts estimate that Americans will need 70 to 90 percent of their pre-retirement income to maintain their current standard of living when they stop working. As an employer, you have an important role in helping America's workers save.
By starting a retirement savings plan, you will help your employees save for the future. You can establish a plan even if you are self-employed. Retirement plans may also help you attract and retain qualified employees, and offer tax savings to your business.
Tax Advantages
A retirement plan has significant tax advantages:
- Employer contributions are deductible from the employer's income
- Employee contributions (other than Roth contributions) are not taxed until distributed to the employee
- Money in the plan grows tax-free
Additional Incentives
- Help attract and retain quality employees — a key differentiator in today's labor market
- May make you eligible for a tax credit of up to $500 per year for the first three years of a new plan
- Allow you to save more for your own retirement, taking advantage of higher limits than individual IRAs
- Can be tailored to reward long-term employees with vesting schedules
Types of Plans We Administer
- 401(k) plans — the most common employer-sponsored retirement vehicle
- Profit-sharing plans — flexible annual contributions tied to business performance
- Defined benefit / pension plans — guaranteed retirement income
- 403(b) plans — for non-profit and educational institutions
- 457 plans — for government and certain non-profit employees
- SIMPLE IRA and SEP IRA — ideal for small businesses and the self-employed