Retirement Plan Overview

Retirement Plan


Whether you are a sole proprietor, partnership or a corporation, there are several types of qualified retirement plans that can meet your needs. A retirement plan can serve many purposes, from tax sheltering income to attracting and retaining employees. Our trained consultants can help select the ideal plan for your company.

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


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