Retirement Plan Overview
Qualified Retirement Plans
Retirement plans have become a key part of attracting and retaining key employees. A qualified plan is a retirement plan that must meet a set of Internal Revenue Code requirements. In return, the Internal Revenue Service provides significant tax advantages to encourage establishment and participation in retirement plans:
- Employer contributions to the plan are tax deductible.
- Ongoing plan expenses are tax deductible.
- Earnings on investments accumulate tax-deferred, which allows contributions and earnings to compound at a faster rate.
- Employees are not taxed on employer contributions and earnings until they receive the funds.
- Employees may make either pretax or Roth contributions to certain types of plans
Employers can choose between two basic types of retirement plans: defined contribution and defined benefit. Both a defined contribution and defined benefit plan may be sponsored simultaneously to maximize benefits. Review details of the plan types with the following links.
Defined Contribution Plans
Defined Benefit Plans
Get In Touch
Connect directly with our experienced associates.
Our team is here to help you take the next step.