Retirement Solutions for Your Business

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Retirement Solutions for Your Business"

Transcription

1 Retirement Solutions for Your Business

2 Our Service Warranty We promise to provide quality service in a competent, capable and effective manner. If we don t, we ll either fix the problem or we ll waive the fee for that service. 1 We also indemnify the appropriate fiduciary with respect to their liability, losses and reasonable expenses directly incurred by them if we fail to perform a particular service in the agreed manner. 1,2 Not FDIC or NCUA insured May lose value Not a deposit No bank or credit union guarantee Not insured by any Federal government agency 1 This brochure is for informational purposes only and does not affect the terms and provisions defined in any term or provision of the Service Warranty. For comprehensive warranty details on the levels of coverage we offer, see the Service Warranty document. 2 For purposes of nonqualified plans and plans that are not subject to ERISA, Principal Life indemnifies the Plan Representative who signs the Service Agreement.

3 Retirement solutions for your business Most owners of growing businesses want to provide a retirement benefit for themselves and their employees. No matter what your retirement goals are, the Principal Financial Group can help. The Principal offers products and services for each stage of your company s development. We provide: Retirement plan services: bundled and third party administrator (TPA) A diverse range of investment options Resources and service options to help you maintain your retirement plan We work with thousands of small business clients. They each build, sell or service something different, but they all have one thing in common: they want a retirement plan tailored to their needs at a reasonable cost. The following pages illustrate many retirement plan design possibilities. Why consider a retirement plan? Would you like to: Reduce your business taxes? Build vital retirement savings for yourself? Provide an attractive retirement plan to recruit, reward and retain valuable employees? Qualified retirement plans can help provide these advantages and are a great way to save for retirement with benefits like pre-tax savings and potential tax-deferred growth. Your service team can help you: Sort through the various products Find possible solutions for your business Walk you and your employees through the steps to establish your retirement plan 1

4 Plans at a glance 401(k) Plan Safe Harbor 401(k) Plan Target or Typical Plan Sponsor All businesses, except government agencies. All businesses, except government agencies. Best Features Provides pre-tax retirement saving and flexibility. Provides pre-tax retirement saving and flexibility. Funded By Employee and employer. Employee and employer. Eligibility Requirements Usually employees age 21 or older with one year of service and 1,000 hours. Usually employees age 21 or older with 1 year of service and 1,000 hours. Maximum Annual Individual Contribution Contributions are the lesser of the plan or Internal Revenue Service (IRS) limit $18,000 1 and up to 100% of your annual eligible compensation. Contributions are the lesser of the plan or IRS limit $18,000 1 and up to 100% of your annual eligible compensation. Maximum Annual Employer Contribution 25% of eligible employee compensation up to $53, Choice of 2 required contributions: 1. Match 100% of first 3% of compensation 2 plus 50% of next 2% of compensation, 2 OR 2. Contribution of 3% of compensation 2 to all eligible employees. 3 Additional employer contributions may be allowed; however, when combined with required contribution, total contribution cannot exceed 25% of eligible employee compensation up to $53,000. Vesting Schedule Vesting schedule available. 100% immediate vesting on required match or nonelective contribution. Additional employer contributions may be subject to a vesting schedule. Plan Compliance Testing and Government Reporting ADP 4 Yes Top Heavy 5 Yes 415 Testing 6 Yes Government Reporting 7 Yes ADP 4 No Top Heavy 5 No Testing 6 Yes Government Reporting 7 Yes Loans Available Yes. Yes. When to Establish Any time. At least 3 months prior to plan year-end. 1 Individuals age 50 and over are allowed to make catch-up contributions. 401(k) and Safe Harbor 401(k) allow a $6,000 catch-up contribution. The SIMPLE-IRA catch-up contribution is $3,000, and the Roth IRA and Traditional IRA catch-up contributions are $1, As indexed by the IRS for the 2016 calendar year. For purposes of maximum contributions, compensation is limited to $265,000 per participant per year. 3 Safe Harbor 401(k) plans allowing additional contributions are subject to top-heavy testing. 4 Federal laws and regulations require that qualified plans don t discriminate in favor of the highly compensated employees in your organization. These employees are a group of owners and highly paid employees. The IRS developed the Actual Deferral Percentage/Actual Contribution Percentage (ADP/ACP) test(s) to prove discrimination is not occurring in your plan. Your plan must meet the test(s) each plan year. 2

5 Plans at a glance SIMPLE-IRA Profit Sharing Plan SEP-IRA Target or Typical Plan Sponsor All businesses with fewer than 100 employees, including the self-employed. All businesses. All businesses. Most appealing to those with 10 or fewer employees. Best Features Provides pre-tax retirement saving and easy administration. Allows flexible contributions. Easy administration and flexibility. Funded By Employee and employer. Employer. Employer. Eligibility Requirements Employees earning $5,000 in 2 prior years. Usually employees age 21 or older with 1 year of service and 1,000 hours. Usually employees age 21 or older with any service in 3 out of 5 years. Maximum Annual Individual Contribution 100% of compensation up to $12,500. 1, 2 Not applicable. Not applicable. Maximum Annual Employer Contribution Choice of 2 required contributions: 1. Match 100% up to 3% of compensation, OR 2. Contribution of 2% of compensation 2 to all eligible employees. The match can be reduced in 2 out of 5 years. No additional employer contributions are allowed. 25% of eligible employee compensation 2 up to $53,000. Contribution amount is discretionary each year. Profit sharing contributions can be allocated in the following ways: Pay-to-pay Integrated Age weighted Comparability 25% of eligible employee compensation 2 up to $53,000. Contribution amount is discretionary each year. Vesting Schedule 100% immediate vesting. Vesting schedule available. 100% immediate vesting. Plan Compliance Testing and Government Reporting ADP 4 - No Top Heavy 5 No 415 Testing 6 No Government Reporting 7 No ADP 4 No Top Heavy 5 Yes 415 Testing 6 Yes Government Reporting 7 Yes ADP 4 No Top Heavy 5 Yes 415 Testing 6 No Government Reporting 7 No Loans Available No. Yes. No. When to Establish Jan. 1 - Oct. 1. Prior to fiscal year-end. Any time prior to tax filing, including extensions. 5 Part of maintaining a qualified retirement plan includes determining its top-heavy status each year. To help you with your plan administration and according to Internal Revenue Code 416, we provide you with account values or perform a top-heavy test for your approval each year. A plan is top heavy when key employees hold more than 60 percent of its retirement funds in the accounts the plan holds for their benefit. Results of the top-heavy test may affect vesting requirements for a plan year. In addition, a minimum contribution of up to three percent of compensation may be due for the year(s) in which a plan is top heavy. 6 Internal Revenue Code Section 415 specifies the amount of contribution that may be allocated to an employee for a limitation year. If 415 limits are exceeded, the qualified status of your plan may be jeopardized. We perform the 415 limits test each year to verify that your participants stay within these guidelines. 7 The Principal helps produce the Form 5500, audit package and applicable schedules for our clients based on information provided by the clients. 3

6 401(k) plan The 401(k) plan is a very popular retirement plan for large and medium-sized companies. But it may also be appropriate for small businesses because of the following features: Flexible plan design Employees can make pre-tax salary deferrals of up to $18,000 1 Your business may make optional profit sharing and matching contributions 2 Individuals age 50 and older are allowed to make a $6,000 1 catch-up contribution if meeting the lesser of the plan or IRS limit Company contributions are tax deductible; pre-tax contributions and earnings are tax deferred However, a high level of participation is usually necessary in order for owners or key employees to defer the maximum contributions permitted by the IRS. Company matching contributions and/or profit sharing contributions are optional. Case study 20 full-time eligible employees $1,045,000 in payroll 1.5% match (25% up to 6%) Employee group deferring 6% of pay Consider this... In this example, a 401(k) plan can help the owners save a total of $31,500 a year and contribute to their employees retirement accounts for a net cost of only $10,815 after annual tax savings. 1 As indexed by the IRS for the 2016 calendar year. 2 Salary deferrals and optional profit sharing and matching contributions cannot exceed the lesser of 100 percent of pay or $53,000 per participant. Total employer contribution to plan cannot exceed 25 percent of total eligible compensation (2016 calendar year, as indexed). Because the 401(k) plan has certain administrative requirements and IRS compliance testing and reporting, the Principal Financial Group suggests full-service recordkeeping for this retirement plan. For a 401(k) proposal to suit your needs, please ask your trusted financial professional to complete a Proposal Request. 4

7 I thought a 401(k) plan was only for big companies. The Principal helped me put a plan in place with competitive administrative costs. Name Income Employee Salary Deferral Employer Match Total Contribution Owner Group Owner 1 $265,000 $18,000 $3,975 $21,975 Owner 2 $155,000 $12,400 $2,325 $14,725 Owners Total $420,000 $30,400 $6,300 $36,700 Employee Group Average Employees 1-5 $50,000 $3,000 $750 $3,750 Employees 6-20 $25,000 $1,500 $375 $1,875 Employees Total $625,000 $37,500 $9,375 $46,875 Grand Total $1,045,000 $67,900 $15,675 $83,575 Tax Savings at 31% $4,860 Net Employer Cost $10,815 Owners receive 44% of contributions Cost of plan as a percentage of payroll is 8% Vesting schedule may reduce costs of employer contributions The potential cost... The growth for owner 1 of a $21,975 annual plan contribution assuming a 7% annual return over 20 years = $985,912* Total annual tax-deductible contributions ($21,975 x 20 years) = - $439, of not having a plan = $546,412 For illustrative purposes only. * Hypothetical fixed annual rate of return of 7 percent does not guarantee any future returns nor represent the returns of any particular investment. Actual results will vary. The effects of income and capital gains taxes are not demonstrated. This information should not be considered indicative of future results. Principal value and return of investment options will fluctuate. Account value at redemption may be more or less than the original amount. This is the potential cost of not having a plan over a period of 20 years. 5

8 Safe Harbor 401(k) plan The Safe Harbor 401(k) plan allows your company to enjoy the benefits of a traditional 401(k) plan without many of its complex rules. 1 Better yet, it may allow higher contribution levels than a traditional 401(k) plan. The plan s major advantages are: No complicated non-discrimination testing Additional profit sharing contributions are allowed with a vesting schedule Employees may make pre-tax salary deferrals of up to $18,000 2 Individuals age 50 and older are allowed to make a $6,000 2 catch-up contribution if meeting the IRS pre-tax deferral limit Two contribution choices 3 1) Match 100% of the first 3% of compensation, plus 50% of the next 2% of compensation 4 2) Contribute 3% of compensation to all eligible employees (satisfying the required minimum top-heavy contribution) 4 This plan combines the administrative ease of the Savings Incentive Match Plan for Employees (SIMPLE-IRA) with the contribution flexibility of a 401(k) plan, thus allowing you to truly maximize your salary deferral contributions. Case study 2 owners 16 full-time eligible employees $600,000 in payroll 3% required contribution Employee group deferring 4% Consider this... In this example, a Safe Harbor 401(k) plan can help the owners save a total of $42,600 a year and contribute to their employees retirement accounts for a net cost of only $12,420 after annual tax savings. 1 Eligible employees must be notified prior to plan start date. 2 As indexed by the IRS for the 2016 calendar year. For purposes of maximum contributions, compensation is limited to $265,000, as indexed, per participant per year. 3 Deferrals and required employer contribution and optional additional profit sharing contributions cannot exceed the lesser of 100 percent of pay or $53,000 per participant. Total employer contribution to plan cannot exceed 25 percent of total eligible compensation (2016 tax year, as indexed). Enhanced matching options also available. 4 Employees are 100 percent vested in required employer contribution. 6

9 My partner and I almost doubled our deferrals after switching from a traditional 401(k) to the Safe Harbor 401(k), and our employees each receive a contribution for their own retirement. Name Income Employee Salary Deferral Employer 3% Contribution Total Owner Group Owner 1 $120,000 $18,000 $3,600 $21,600 Owner 2 $100,000 $18,000 $3,000 $21,000 Owners Total $220,000 $36,000 $6,600 $42,600 Employee Group Average Employees 1-4 $35,000 $1,400 $1,050 $2,450 Employees 5-16 $20,000 $800 $600 $1,400 Employees Total $380,000 $15,200 $11,400 $26,600 Grand Total $600,000 $51,200 $18,000 $69,200 Tax Savings at 31% $5,580 Net Employer Cost $12,420 Owners able to maximize their retirement savings by increased salary deferral amounts Great fit for owners who expect poor 401(k) participation The potential cost... The growth for owner 1 of a $21,600 annual plan contribution assuming a 7% annual return over 20 years = $969,088* Total annual tax-deductible contributions ($21,600 x 20 years) = - $432, of not having a plan = $537,088 For illustrative purposes only. * Hypothetical fixed annual rate of return of seven percent does not guarantee any future returns nor represent the returns of any particular investment. Actual results will vary. The effects of income and capital gains taxes are not demonstrated. This information should not be considered indicative of future results. Principal value and return of investment options will fluctuate. Account value at redemption may be more or less than the original amount. This is the potential cost of not having a plan over a period of 20 years. 7

10 SIMPLE-IRA The SIMPLE-IRA is an economical way to sponsor a retirement plan, because employees may elect to defer part of their salaries into the plan along with the contributions you make. Its low cost and easy administration make it appealing to many small business owners with 100 or fewer employees who do not maintain another retirement plan. The plan s major advantages are: No plan compliance testing or annual Form 5500 filing required No employer administration fee Contribution maximum: Employee salary deferral is 100% of compensation up to $12,500 1 Individuals age 50 and older are allowed to make a $3,000 1 catch-up contribution if meeting the IRS pre-tax deferral limit Employer contributions are federally tax deductible, and contributions and earnings are tax deferred Two SIMPLE contribution choices Under the SIMPLE-IRA, employers must make contributions in one of two ways. Employees are 100 percent vested in all contributions. 1) 3% match You match your employees contributions dollar-for-dollar, up to 3% of each eligible employee s gross salary. (Matching contribution cannot exceed $12,500 1 annually unless the participant is over age 50.) In two years of any five-year period, you can elect to reduce the match to as low as 1% of salary. 2) 2% contribution You contribute 2% of all eligible employees gross salaries whether or not they elect to participate in the plan. Case study 6 full-time eligible employees 2 owners and 1 spouse 3% match Consider this... In this example, a SIMPLE-IRA can help the owners save a total of $51,400 a year and contribute to the employees retirement accounts for a net cost of only $13,317 after taxes. 1 As indexed by the IRS for the 2016 calendar year. 8

11 The SIMPLE-IRA looks and feels like a 401(k) plan but can be simpler and less costly. Name Income Employee Salary Deferral Employer Match Total Contribution Owner Group Owner 1 $383,350 $12,500 $11,500 $24,000 Owner 2 $65,000 $12,500 $1,950 $14,450 Owner Spouse $15,000 $12,500 $450 $12,950 Owners Total $463,350 $37,500 $13,900 $51,400 Employees 1-6 $30,000 $900 $900 $1,800 Employees Total $180,000 $5,400 $5,400 $10,800 Grand Total $643,350 $42,900 $19,300 $62,200 Tax Savings at 31% $5,983 Net Employer Cost $13,317 Great fit for employers who want a 401(k) plan but expect poor participation Especially appealing if owner or owner s spouse has low earned income Simple to administer, low-cost retirement plan but has limited flexibility Loans, vesting schedule and additional employer contributions are not allowed The potential cost... The growth for owner 1 of a $24,000 annual plan contribution assuming a 7% annual return over 20 years = $1,076,764* Total annual tax-deductible contributions ($24,000 x 20 years) = - $480, of not having a plan = $596,764 For illustrative purposes only. * Hypothetical fixed annual rate of return of seven percent does not guarantee any future returns nor represent the returns of any particular investment. Actual results will vary. The effects of income and capital gains taxes are not demonstrated. This information should not be considered indicative of future results. Principal value and return of investment options will fluctuate. Account value at redemption may be more or less than the original amount. This is the potential cost of not having a plan over a period of 20 years. 9

12 Profit sharing plans A profit sharing plan is a retirement plan that lets your company make discretionary contributions for your employees. The main advantages of a profit sharing plan are: Helps attract and keep quality employees Provides plan design flexibility Allows varying levels of contributions each year Helps to motivate employees Allocation formulas Allocation formulas play an important part in designing a profit sharing plan. The IRS requires a specific, predetermined formula for allocating profits to employees. The four formulas to choose from are described here: Pay-to-Pay: Based on participant s pay. Each participant receives an allocation based on the ratio of his or her eligible pay to the total payroll of all plan participants. Integrated: Allows you to give a larger percentage of the contribution to higher-paid participants for wages above a pre-selected amount. This method integrates the plan with a participant s Social Security benefit. Age-Weighted: Gives each participant a share of the contribution based on his or her age and compensation compared to other participants. This results in older participants with higher salaries receiving a larger share of the plan contributions. Comparability: Contribution is tailored to a specific group. Attempts to maximize the contributions given to a select group of your most valued plan participants while giving the minimum contributions necessary to pass required testing to the remaining participants. Identifying factors for your select group may include age, title or ownership.* * May be an additional cost for testing. 10

13 Consider this... The chart below shows an example of how the same plan contribution amount ($101,947) can be allocated given the various allocation methods. Name Age Income Pay-to-Pay Contribution Integrated Contribution Age-Weighted Contribution Comparability Contribution Owner Group Highly Compensated Owner 1 51 $260,000 $37,812 $39,917 $36,226 $46,428 Owner 2 57 $260,000 $37,812 $39,917 $52,000 $46,428 Owners Total $520,000 $75,624 $79,833 $88,226 $92,855 % of Budget 74% 78% 87% 91% Non-Highly Compensated Employee 1 27 $18,000 $2,618 $2,199 $354 $904 Employee 2 37 $24,000 $3,490 $2,932 $1,067 $1,206 Employee 3 36 $15,000 $2,181 $1,833 $615 $753 Employee 4 60 $30,000 $4,363 $3,665 $8,711 $1,507 Employee 5 29 $28,000 $4,072 $3,421 $648 $1,406 Employee 6 31 $20,000 $2,909 $2,444 $545 $1,005 Employee 7 39 $21,000 $3,054 $2,566 $1,099 $1,055 Employee 8 31 $25,000 $3,636 $3,054 $681 $1,256 Employees Total $181,000 $26,323 $22,114 $13,721 $9,092 Grand Total $701,000 $101,947 $101,947 $101,947 $101,947 Tax Savings at 31% $31,604 $31,604 $31,604 $31,604 Net Employer Cost $70,343 $70,343 $70,343 $70,343 Changes in employee group can change allocation. For illustrative purposes only. 11

14 SEP-IRA The Simplified Employee Pension (SEP-IRA) is a great program for small businesses and the self-employed. The plan s major advantages are: You decide the percentage you wish to contribute each year, up to 25% of compensation or $53,000, whichever is less 1 No requirements on the frequency or amount of contributions Easy to establish No employer administration fee No annual Form 5500 required No IRS reporting requirements, and paperwork is minimal This plan enables you to make discretionary, federally tax-deductible contributions for yourself and your eligible employees. You are only required to contribute for employees who: Are age 21 or older Have worked for your business for three of the past five years You may designate less restrictive requirements. Establishing a SEP requires an IRA be established for each eligible employee. You make contributions directly to your employees IRAs. Case study 2 owners, 1 owner s spouse, and 1 employee Goal: to maximize contributions to owner Consider this... In this example, a SEP-IRA can help the owners save $53,000 a year and contribute to the employees retirement accounts for a net cost of only $36,570 after taxes. 1 As indexed by the IRS for the 2016 calendar year. 12

15 The SEP-IRA is a simple, flexible and cost-effective solution to retirement needs. Name Date of Hire Salary Employer 20% Contribution Owner Group Owner $265,000 $53,000 Owner $15,000 $3,000 Owner Spouse 2015 $35,000 Not Eligible Employee $22,000 Not Eligible Total $337,000 $56,000 Tax Savings at 31% $16,430 Net Employer Cost $36,570 Owner receives 95% of total contribution Turnover may allow employee exclusions Employees are 100% vested in employer contributions Most effective if owner s earned income is over $53,000 (If less, consider SIMPLE-IRA) The potential cost... The growth of a $53,000 annual plan contribution for the owner assuming a 7% annual return over 20 years = $2,377,851* Total annual tax-deductible contributions ($53,000 x 20 years) = - $1,060, of not having a plan = $1,317,851 For illustrative purposes only. * Hypothetical fixed annual rate of return of seven percent does not guarantee any future returns nor represent the returns of any particular investment. Actual results will vary. The effects of income and capital gains taxes are not demonstrated. This information should not be considered indicative of future results. Principal value and return of investment options will fluctuate. Account value at redemption may be more or less than the original amount. This is the potential cost of not having a plan over a period of 20 years. 13

16 The subject matter in this communication is provided with the understanding that The Principal is not rendering legal, accounting or tax advice. You should consult with appropriate counsel or other advisors on all matters pertaining to legal, tax or accounting obligations and requirements. Insurance products and plan administrative services are provided by Principal Life Insurance Company. Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc. Securities are offered through Princor Financial Services Corporation, , Member SIPC and/or independent broker/dealers. Securities sold by a Princor Registered Representative are offered through Princor. Principal Funds Distributor, Princor and Principal Life are members of the Principal Financial Group, Des Moines, IA The testimonials contained within this communication may not be representative of the experience of other clients. They are no guarantee of future performance or success. No fees were paid for the testimonials. principal.com 2015 Principal Financial Services, Inc. MM /2015 t cc

Small Business Plans Business owner guide

Small Business Plans Business owner guide Small Business Plans Business owner guide Contents 1 Why Consider a Retirement Plan? 2 SEP Plan 4 SIMPLE IRA 6 Age-Weighted Profit Sharing Plan 8 New Comparability Profit Sharing Plan 10 Safe Harbor 401(k)

More information

SIMPLE IRA Plan. Reporting and Disclosure Requirements No annual IRS filing requirement.

SIMPLE IRA Plan. Reporting and Disclosure Requirements No annual IRS filing requirement. SIMPLE IRA Plan A SIMPLE IRA plan provides small employers with a simplified method to contribute toward their employees' and their own retirement savings. Employees may choose to make salary reduction

More information

2015 retirement plan summary

2015 retirement plan summary Understanding the differences among retirement plan alternatives 2015 retirement plan summary If you re establishing a new retirement plan, selecting the appropriate design is the first step in providing

More information

Business Retirement Plans Choose Wisely

Business Retirement Plans Choose Wisely Business Retirement Plans Choose Wisely Business Retirement Plans BNY Mellon Retirement is here to help you craft the bold solutions that help deliver successful retirement outcomes. Americans are expected

More information

401(k) Plans for Business Owners

401(k) Plans for Business Owners 401(k) Plans for Business Owners Flexible options for companies of all sizes Because large corporations spearheaded the growth of 401(k) plans, many closely held business owners assume this type of plan

More information

transamerica ADVANCED MARKETS Transamerica s guide to small business RETIREMENT PLANS

transamerica ADVANCED MARKETS Transamerica s guide to small business RETIREMENT PLANS Transamerica s guide to small business RETIREMENT PLANS guide to small business RETIREMENT PLANS Once you decide to offer a retirement plan to your employees, one of the most important decisions you will

More information

The Five Pillars of a Retirement Plan

The Five Pillars of a Retirement Plan The Five Pillars of a Retirement Plan An employee retirement plan can help: Recruit and retain valuable employees Bridge the gap between Social Security and retirement income needs, which are estimated

More information

Comparing retirement plans

Comparing retirement plans The right choice for the long term Comparing retirement plans Determine the plan type that will best meet your and your organization s needs. January 2012 Annual contribution limits at a glance 1, 2 SEP

More information

employee benefits update february/march 2013

employee benefits update february/march 2013 employee benefits update february/march 2013 It s time to reap the benefits of matching contributions Can you define compensation? A review of IRS definitions that affect qualified plans Offsetting stagnant

More information

Plan Sponsor 401(k) Retirement Plan Analysis

Plan Sponsor 401(k) Retirement Plan Analysis Plan Sponsor 401(k) Retirement Plan Analysis Table of Contents: 3 Controlled Groups & Affiliated Service Groups 4 Plan Design Alternatives 5 401(k) Testing Requirements 6 ADP & ACP Testing 7 Top Heavy

More information

Choosing a Retirement Plan for Your Business

Choosing a Retirement Plan for Your Business january 2014 Choosing a Retirement Plan for Your Business introduction Table of Contents Building Your Retirement Starting and maintaining a retirement plan for your business can be easier than you think

More information

Small business. Big opportunity.

Small business. Big opportunity. Small business. Big opportunity. Retirement plans for small-business owners Allianz Life Insurance Company of New York Allianz Life Insurance Company of North America AMK-161-N Page 1 of 8 Small business,

More information

CHOOSING A RETIREMENT SOLUTION. for Your Small Business

CHOOSING A RETIREMENT SOLUTION. for Your Small Business CHOOSING A RETIREMENT SOLUTION for Your Small Business Choosing a Retirement Solution for Your Small Business is a joint project of the U.S. Department of Labor s Employee Benefits Security Administration

More information

Guide to Small Business Retirement Plans

Guide to Small Business Retirement Plans Guide to Small Business Retirement Plans ADVANCED MARKETS All guarantees, including optional benefits, are backed by the claims paying ability of the issuing insurance company. Annuities issued by Transamerica

More information

SIMPLE IRA 2016 Fact Sheet

SIMPLE IRA 2016 Fact Sheet SIMPLE IRA 2016 Fact Sheet A retirement plan option for small business owners with 100 or fewer employees may be an ideal option for your business. The Savings Incentive Match Plan for Employees (SIMPLE)

More information

401(k) PROFIT SHARING SOLUTIONS

401(k) PROFIT SHARING SOLUTIONS 401(k) PROFIT SHARING SOLUTIONS Most small business owners are concerned about retirement, both for themselves and for their employees. The question isn t whether to implement a retirement plan. The two

More information

EmployEr Fact ShEEt. PLAn FeAtures

EmployEr Fact ShEEt. PLAn FeAtures EmployEr Fact ShEEt SIMPLE IRA A plan option for small business owners with 100 or fewer employees may be an ideal option for your business. The Savings Incentive Match Plan for Employees (SIMPLE) IRA

More information

Qualified Retirement Plans

Qualified Retirement Plans Qualified Retirement Plans A reference guide Put together by the Qualified Plans Resource Group For Financial Professional Use Only. Not for use with the public. Any discussion pertaining to taxes in this

More information

Small Business Retirement Solutions RETIREMENT & BENEFIT PLAN SERVICES

Small Business Retirement Solutions RETIREMENT & BENEFIT PLAN SERVICES Small Business Retirement Solutions RETIREMENT & BENEFIT PLAN SERVICES Retirement & Benefit Plan Services Whether it s bridging the gap between what you have and what you may need or linking you with a

More information

401(k) Plan Executive Summary

401(k) Plan Executive Summary 401(k) Plan Executive Summary January 2016 3000 Lava Ridge Court, Suite 130 Roseville, CA 95661 Tel 916.773.3480 Fax 916.773.3484 6400 Canoga Avenue, Suite 250 Woodland Hills, CA 91367 Tel 818.716.0111

More information

401(k) Plans for Business Owners

401(k) Plans for Business Owners 401(k) Plans for Business Owners Flexible options for companies of all sizes Because large corporations spearheaded the growth of 401(k) plans, many closely held business owners assume this type of plan

More information

IRAs, pensions and other retirement savings vehicles

IRAs, pensions and other retirement savings vehicles from Personal Financial Services IRAs, pensions and other retirement savings vehicles February 27, 2014 In brief Qualified plans and IRAs are an essential part of retirement and tax planning for many individuals.

More information

Small Business Retirement Plans:

Small Business Retirement Plans: Small Business Retirement Plans: Denise R. Bump Financial Advisor Bump & Associates A private wealth advisory practice of Ameriprise Financial Services, Inc. from SIMPLE to Sophisticated. 29 July 2014

More information

Small Business Solutions. Exploring Qualified. What you need to know to decide which plan is right for your business.

Small Business Solutions. Exploring Qualified. What you need to know to decide which plan is right for your business. Small Business Solutions Exploring Qualified Retirement Plans What you need to know to decide which plan is right for your business. 2 Exploring Qualified Retirement Plans For many businesses, offering

More information

Small Business Retirement Plans:

Small Business Retirement Plans: Small Business Retirement Plans: From SIMPLE to Sophisticated Pete Levy ChFC Financial Advisor Statistics about small businesses A MAJOR SEGMENT OF THE ECONOMY 99.9% of all U.S. businesses employ 500 or

More information

Retirement Plans For the Sole Practitioner and the Small Law Firm

Retirement Plans For the Sole Practitioner and the Small Law Firm Retirement Plans For the Sole Practitioner and the Small Law Firm Richard A. Rogers, Jr. Employee Benefits Group This article addresses the question What retirement program would be a good match for a

More information

Retirement Plans for Small Businesses and the Self-Employed

Retirement Plans for Small Businesses and the Self-Employed Retirement Plans for Small Businesses and the Self-Employed Retirement Planning Void Just 28% of companies with 10 or fewer employees offer any type of retirement plan. 51% of companies with 10 to 24 workers

More information

Cash or Deferred 401(k) Plan

Cash or Deferred 401(k) Plan The Basics Any profit sharing or stock bonus plan that meets certain participation requirements of IRC Sec. 40(k) can be a cash or deferred plan. An employee can agree to a salary reduction or to defer

More information

A Lesson in Qualified Retirement Plans

A Lesson in Qualified Retirement Plans A Lesson in Qualified Retirement Plans Since salary alone is often not enough to attract and retain valued employees, how can your business use a qualified retirement plan to enhance its employee benefits

More information

2010 SIMPLE vs SAFE HARBOR 401(k) vs TRADITIONAL 401(k) COMPARISON

2010 SIMPLE vs SAFE HARBOR 401(k) vs TRADITIONAL 401(k) COMPARISON 2010 SIMPLE vs SAFE HARBOR vs TRADITIONAL COMPARISON John M. Peterson, CPA Iris Dodson, CPA (757) 457-8440 (757) 457-8444 SIMPLE Maximum size of adopting employer No more than 100 employees earning at

More information

Choosing the Best Retirement Plan for Your Business

Choosing the Best Retirement Plan for Your Business Choosing the Best Retirement Plan for Your Business Experts estimate that American workers will need 70 to 90 percent of their preretirement income to maintain their current standard of living in retirement.

More information

Small Business Retirement Plans at E*TRADE HELP AND GUIDANCE FOR EVERY SMALL BUSINESS OWNER

Small Business Retirement Plans at E*TRADE HELP AND GUIDANCE FOR EVERY SMALL BUSINESS OWNER Small Business Retirement Plans at E*TRADE HELP AND GUIDANCE FOR EVERY SMALL BUSINESS OWNER Small Business Plan recommendations Powerful online tools and resources Support from Small Business Retirement

More information

Simplified Employee Pension

Simplified Employee Pension Simplified Employee Pension A retirement savings plan designed for small businesses Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York AMK-121-N Page 1 of 8 A Simplified

More information

Retirement Plan Design Opportunities for Small Businesses

Retirement Plan Design Opportunities for Small Businesses Retirement Plan Design Opportunities for Small Businesses 1 Retirement Plan Advantages Tax deductible contributions Tax-deferred growth of earnings Wealth diversifier Employee recruitment and retention

More information

Get Financially Fit. Define short-and long-term goals. Have your goals changed from 2-3 years ago? When goals change, adjust your plan.

Get Financially Fit. Define short-and long-term goals. Have your goals changed from 2-3 years ago? When goals change, adjust your plan. Get Financially Fit Reduce debt. Save for today. Save for tomorrow. Define short-and long-term goals. Have your goals changed from 2-3 years ago? When goals change, adjust your plan. 1 What Do Your Financial

More information

SIMPLE IRA Plan. Davis & Graves CPA LLP Jerry Davis, CPA/PFS 700 N Main Gresham, OR 97009 503-665-0173 jerryd@davisgraves.com www.jjdcpa.

SIMPLE IRA Plan. Davis & Graves CPA LLP Jerry Davis, CPA/PFS 700 N Main Gresham, OR 97009 503-665-0173 jerryd@davisgraves.com www.jjdcpa. Davis & Graves CPA LLP Jerry Davis, CPA/PFS 700 N Main Gresham, OR 97009 503-665-0173 jerryd@davisgraves.com www.jjdcpa.com SIMPLE IRA Plan Page 1 of 11, see disclaimer on final page SIMPLE IRA Plan What

More information

SUMMARY PLAN DESCRIPTION

SUMMARY PLAN DESCRIPTION Qualified Retirement Plan SUMMARY PLAN DESCRIPTION 150838 Rev. 11/08 Qualified Retirement Plan and Trust Summary Plan Description TABLE OF CONTENTS INTRODUCTION...iii DEFINITIONS...1 Beneficiary...1 Catch-up

More information

Qualified Retirement Plan

Qualified Retirement Plan Qualified Retirement Plan SUMMARY PLAN DESCRIPTION 150838 02/13 This page intentionally left blank. Qualified Retirement Plan and Trust Summary Plan Description TABLE OF CONTENTS INTRODUCTION... iii DEFINITIONS...

More information

Profit Sharing Plan Executive Summary

Profit Sharing Plan Executive Summary Profit Sharing Plan Executive Summary January 2017 3000 Lava Ridge Court, Suite 130 Roseville, CA 95661 Tel 916.773.3480 Fax 916.773.3484 6400 Canoga Avenue, Suite 250 Woodland Hills, CA 91367 Tel 818.716.0111

More information

Average Deferral Percentage test (ADP test) All other employees are considered Non-HCEs.

Average Deferral Percentage test (ADP test) All other employees are considered Non-HCEs. PART 2 Compliance Testing THE BASICS Your 401(k) plan must be examined regularly to confirm that it is in compliance with the tax code and ERISA regulations. The primary purpose of this compliance testing

More information

Employer Frequently Asked Questions

Employer Frequently Asked Questions Employer Frequently Asked Questions Contributions How much can a participant defer? The IRS limits the amount a participant can defer in a given calendar year. This is the 402(g) limit which is an indexed

More information

Simplified Employee Pension (SEP)

Simplified Employee Pension (SEP) Marblehead Financial Services Bill Bartin, CFP Located at Marblehead Bank 21 Atlantic Avenue Marblehead, MA 01945 781-476-0600 781-715-4629 wbartin@infinexgroup.com Simplified Employee Pension (SEP) Page

More information

CHAPTER 11 SIMPLE PLANS AND SIMPLIFIED EMPLOYEE PENSIONS

CHAPTER 11 SIMPLE PLANS AND SIMPLIFIED EMPLOYEE PENSIONS CHAPTER 11 SIMPLE PLANS AND SIMPLIFIED EMPLOYEE PENSIONS SIMPLE Plans The Small Business Job Protection Act of 1996 created a simplified retirement plan for small business called the savings incentive

More information

SEP or SIMPLE. Making the Right Decision for Your Business

SEP or SIMPLE. Making the Right Decision for Your Business SEP or SIMPLE Making the Right Decision for Your Business SEP or SIMPLE Similarities Who may establish? Any Self-Employed Individual, Partnership, S Corporation, Corporation, Tax Exempt Organization or

More information

Retirement Plans Guide Facts at a glance

Retirement Plans Guide Facts at a glance Retirement Plans Guide Facts at a glance Contents 1 What s Your Plan? 2 Small Business/Employer Retirement Plans 4 IRAs 5 Retirement Plan Distributions 7 Rollovers and Transfers 8 Federal Tax Rates and

More information

If your plan has not been updated to reflect EGTRRA, the plan needs to be revised.

If your plan has not been updated to reflect EGTRRA, the plan needs to be revised. 1) Has your plan document been updated within the past few years to reflect recent law changes? If your plan has not been updated to reflect EGTRRA, the plan needs to be revised. Laws related to retirement

More information

Retirement Products Changes to Annual Account Maintenance Fee

Retirement Products Changes to Annual Account Maintenance Fee Retirement Products Changes to Annual Account Maintenance Fee Effective December 11, 2015, the annual account maintenance fee (Fee) for OppenheimerFundssponsored retirement products will change and will

More information

The SIMPLE IRA Plan. Savings Made Simple For Your Employees. Retirement Plans

The SIMPLE IRA Plan. Savings Made Simple For Your Employees. Retirement Plans The SIMPLE IRA Plan Savings Made Simple For Your Employees Retirement Plans About Stifel Nicolaus Stifel Nicolaus is a full-service Investment firm with a distinguished history of providing securities

More information

CHOOSING A RETIREMENT SOLUTION

CHOOSING A RETIREMENT SOLUTION CHOOSING A RETIREMENT SOLUTION for Your Small Business This pamphlet constitutes a small entity compliance guide for purposes of the Small Business Regulatory Enforcement Fairness Act of 1996. It does

More information

The Business Planning Group Inc. Retirement Planning Guide 2015 Edition

The Business Planning Group Inc. Retirement Planning Guide 2015 Edition 2015 Edition Table of Contents Why you should help your clients set up a Qualified Retirement Plan 3 Overview of Qualified Plans 4 Chart of Qualified Retirement Plan Options 5 Individual Retirement Account

More information

Invesco SIMPLE IRA Business owner guide

Invesco SIMPLE IRA Business owner guide Invesco SIMPLE IRA Business owner guide As a self-employed person, how will you pay for your living expenses when you re no longer able to work? And how much will you need? According to U.S. News & World

More information

Focus: Retirement Plan Services. Small-Business Retirement Plan Options. A Retirement Plan Could Be Big for Your Small Business.

Focus: Retirement Plan Services. Small-Business Retirement Plan Options. A Retirement Plan Could Be Big for Your Small Business. Focus: Retirement Plan Services Small-Business Retirement Plan Options A Retirement Plan Could Be Big for Your Small Business. Restaurants Landscaping businesses Bookstores Design firms Medical practices

More information

CHOOSING A RETIREMENT SOLUTION. for Your Small Business

CHOOSING A RETIREMENT SOLUTION. for Your Small Business CHOOSING A RETIREMENT SOLUTION for Your Small Business This pamphlet is a joint project of the U.S. Department of Labor's Employee Benefits Security Administration (EBSA) and the Internal Revenue Service.

More information

This Checklist is not a complete description of all plan requirements, and should not be used as a substitute for a complete plan review

This Checklist is not a complete description of all plan requirements, and should not be used as a substitute for a complete plan review 401(k) Plan Checklist This Checklist is not a complete description of all plan requirements, and should not be used as a substitute for a complete plan review For Business Owner s Use DO NOT SEND THIS

More information

SIMPLE IRA. Savings Incentive Match Plan for Employees

SIMPLE IRA. Savings Incentive Match Plan for Employees SIMPLE IRA Savings Incentive Match Plan for Employees Introducing the SIMPLE IRA Plan A comfortable retirement is an important financial goal for many American workers. Some financial professionals estimate

More information

401(k) Boot Camp Part 2 Getting Money Into the Plan

401(k) Boot Camp Part 2 Getting Money Into the Plan 401(k) Boot Camp Part 2 Getting Money Into the Plan November 12, 2014 Presenter: Nancy J. Manary, Director Benefits Consulting Verisight, Inc. 401(k) Boot Camp Part 2 Part 1 Getting People Into the Plan

More information

Individual 401(k) plan

Individual 401(k) plan Individual 401(k) plan For small-business owners Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York AMK-094-N Page 1 of 12 Owning your retirement with an individual

More information

Finding the Right Retirement Plan. Let Azzad help you find a plan that works for your business

Finding the Right Retirement Plan. Let Azzad help you find a plan that works for your business { Finding the Right Retirement Plan Let Azzad help you find a plan that works for your business Selecting the best plan for your business can be challenging. with so many different types of retirement

More information

An Easy and Low-Cost Retirement Plan For Your Small Business

An Easy and Low-Cost Retirement Plan For Your Small Business SEP-IRA SEP-IRAs can provide a substantial source of income at retirement by allowing employers to set aside money in retirement accounts for themselves and their eligible employees. An Easy and Low-Cost

More information

NONDISCRIMINATION TESTING

NONDISCRIMINATION TESTING ADVANTEDGE UNDERSTANDING NONDISCRIMINATION TESTING NONDISCRIMINATION TESTING Nondiscrimination testing is the process of identifying when benefit limits are exceeded. Essentially, nondiscrimination regulations

More information

This will depend upon three factors.

This will depend upon three factors. The basics: A SEP provides an employer with a simplified way to make contributions to an employee s individual retirement account or individual retirement annuity. Employer contributions are made directly

More information

IRA / Retirement Plan Accounts

IRA / Retirement Plan Accounts IRA / Retirement Plan Accounts Retirement plans are tax advantaged savings plans that have been created by the US government to encourage investors to save for their retirement. Some investments selected

More information

Sample. Table of Contents. Introduction... 1. What are Roth deferrals and how do they differ from regular deferrals (pre-tax) to a 401(k) plan?...

Sample. Table of Contents. Introduction... 1. What are Roth deferrals and how do they differ from regular deferrals (pre-tax) to a 401(k) plan?... Table of Contents Introduction... 1 What are Roth deferrals and how do they differ from regular deferrals (pre-tax) to a 401(k) plan?... 2 Is it better for a plan participant to make Roth deferrals or

More information

An easy-to-manage retirement plan for small businesses. SIMPLE-IRA Plan PRODUCTS & SERVICES

An easy-to-manage retirement plan for small businesses. SIMPLE-IRA Plan PRODUCTS & SERVICES An easy-to-manage retirement plan for small businesses. SIMPLE-IRA Plan PRODUCTS & SERVICES What s a SIMPLE-IRA? The Savings Incentive Match Plan for Employees is a company-sponsored retirement plan similar

More information

Individual 401(k) plan

Individual 401(k) plan Individual 401(k) plan For small-business owners Allianz Life Insurance Company of New York Allianz Life Insurance Company of North America AMK-094-N Page 1 of 12 Owning your retirement with an individual

More information

CRS Report for Congress

CRS Report for Congress Order Code RS21451 Updated February 6, 2004 CRS Report for Congress Received through the CRS Web Retirement Savings Accounts: President s Budget Proposal for FY2005 Summary Patrick J. Purcell Specialist

More information

Optional supporting subhead 2 lines max. (20 24 pt. size)

Optional supporting subhead 2 lines max. (20 24 pt. size) A Type Retirement of Piece Planning Strategy for Audience Business Owners Headline Simplify your 1 line retirement (34 42 pt. plans size) Optional supporting subhead 2 lines max. (20 24 pt. size) SIMPLE

More information

Understanding the advantages and challenges of this retirement plan. Can you establish a SIMPLE IRA? Sole proprietorships. Partnerships.

Understanding the advantages and challenges of this retirement plan. Can you establish a SIMPLE IRA? Sole proprietorships. Partnerships. The SIMPLE IRA Understanding the advantages and challenges of this retirement plan In general, a SIMPLE IRA may be easier for an employer to administer but less flexible than other qualified retirement

More information

THE OWNERS-ONLY 401(k)

THE OWNERS-ONLY 401(k) THE OWNERS-ONLY 401(k) Company-sponsored 401(k) savings plans have long been considered one of the best ways to save for retirement. Offering easy participation, tax deferral and, often, matching contributions

More information

Plan Facts. Supreme Court Confirms Ongoing Fiduciary Duty to Monitor Plan Fees

Plan Facts. Supreme Court Confirms Ongoing Fiduciary Duty to Monitor Plan Fees Plan Facts September 2015 newsletter Supreme Court Confirms Ongoing Fiduciary Duty to Monitor Plan Fees A plan sponsor s fiduciary duties under the Employee Retirement Income Security Act (ERISA) include

More information

RETIREMENT PLAN OPTIONS FOR SMALL- TO MID-SIZE BUSINESSES

RETIREMENT PLAN OPTIONS FOR SMALL- TO MID-SIZE BUSINESSES RETIREMENT PLAN OPTIONS FOR SMALL- TO MID-SIZE BUSINESSES David Eisenman HMWC CPAs & Business Advisors Doug Jones Creative Retirement Solutions, LLC NON-QUALIFIED RETIREMENT PLANS SIMPLE AND SEP PLANS

More information

Retirement Plans for Small Businesses

Retirement Plans for Small Businesses OppenheimerFunds Retirement Services Plans That Work Retirement Plans for Small Businesses Employer Guide 1234 Plans That Work OppenheimerFunds Retirement Services understands the challenges you face and

More information

Strength of Many. Convenience of One. Voya Select Advantage IRA. Mutual Fund Custodial Account

Strength of Many. Convenience of One. Voya Select Advantage IRA. Mutual Fund Custodial Account Strength of Many. Convenience of One. Voya Select Advantage IRA Mutual Fund Custodial Account Life brings change. C hange often comes from life events such as switching jobs or retiring. What impact will

More information

Retirement Plans for Small Businesses

Retirement Plans for Small Businesses GTE Investment Group 711 E Henderson Ave Tampa, FL 33602 888-871-2690 opt 7 gteinvestments@investmentcenters.com www.gteinvestmentgroup.org Retirement Plans for Small Businesses Page 1 of 5, see disclaimer

More information

Primatics Financial 401(k) Profit Sharing Plan & Trust SUMMARY PLAN DESCRIPTION

Primatics Financial 401(k) Profit Sharing Plan & Trust SUMMARY PLAN DESCRIPTION Primatics Financial 401(k) Profit Sharing Plan & Trust SUMMARY PLAN DESCRIPTION Primatics Financial 401(k) Profit Sharing Plan & Trust SUMMARY PLAN DESCRIPTION TABLE OF CONTENTS INTRODUCTION TO YOUR PLAN...1

More information

INDIVIDUAL 401(k) Plan

INDIVIDUAL 401(k) Plan INDIVIDUAL 401(k) Plan Guidebook Contents WELCOME. When you commit to saving for retirement, you want to invest with a company that shares your dedication to hard work and results. At T. Rowe Price, we

More information

Small-business retirement plan options

Small-business retirement plan options The right choice for the long term Small-business retirement plan options Discover the benefits of a company retirement plan and learn how to select one that matches your specific needs. 2013 edition It

More information

PENTEGRA RETIREMENT SERVICES QUALIFIED PLAN 401(k) PLAN DESIG GN N Building successful outcomes begins with effective plan design

PENTEGRA RETIREMENT SERVICES QUALIFIED PLAN 401(k) PLAN DESIG GN N Building successful outcomes begins with effective plan design PENTEGRA RETIREMENT SERVICES QUALIFIED PLAN 401(k) PLA AN DESIGN Building successful outcomes begins with effective plan design BUILDING A SUCCESSFUL 401(k) GETTING IT RIGHT How do you measure the success

More information

SEP and SEP PLUS SIMPLIFIED EMPLOYEE PENSION PROGRAMS

SEP and SEP PLUS SIMPLIFIED EMPLOYEE PENSION PROGRAMS SEP and SEP PLUS SIMPLIFIED EMPLOYEE PENSION PROGRAMS PLAN DOCUMENTS, DISCLOSURE STATEMENTS AND EMPLOYER S ADOPTION AGREEMENTS CONTENTS SEP PROGRAM SEP PLUS PROGRAM is for use on or after January 1, 2002

More information

Detailed information on safe harbor contributions to 401(k) plans

Detailed information on safe harbor contributions to 401(k) plans Retirement Plan Services Detailed information on safe harbor contributions to 401(k) plans Safe harbor brief explanation: A plan sponsor may elect to contribute safe harbor minimum contributions to a 401(k)

More information

Employer Q&A. Questions and answers about the Schwab SIMPLE IRA

Employer Q&A. Questions and answers about the Schwab SIMPLE IRA Employer Q&A Questions and answers about the Schwab SIMPLE IRA Here are answers to some questions you may have about a SIMPLE IRA Plan. Schwab investment professionals may be able to provide additional

More information

Franklin Templeton Investments Retirement Plan Overview. Reference Guide

Franklin Templeton Investments Retirement Plan Overview. Reference Guide Franklin Templeton Investments Retirement Plan Overview Reference Guide May Be Suitable For Features Eligibility Requirements Plan Contribution Limits Deadline to Set Up/Contribute Distributions Traditional

More information

Overview of small business retirement plans

Overview of small business retirement plans A Quick Guide to Retirement Plans for Small Business Owners Teresa S. Sampleton Vice President Sampleton Wealth Management Group 123 Main Street 12th Floor New York, NY 10018 (212) 555-1111 ext. 10 teresa.sampleton@sampletonwealth.com

More information

Part VI Retirement Accounts for Small Businesses and the Self-Employed

Part VI Retirement Accounts for Small Businesses and the Self-Employed Part VI Retirement Accounts for Small Businesses and the Self-Employed While employees of most large companies have access to 401(k) plans or traditional pension plans, those employed by small firms often

More information

Retirement Products Changes to Annual Account Maintenance Fee

Retirement Products Changes to Annual Account Maintenance Fee Retirement Products Changes to Annual Account Maintenance Fee Effective December 11, 2015, the annual account maintenance fee (Fee) for OppenheimerFundssponsored retirement products will change and will

More information

employee benefits update

employee benefits update employee benefits update february/march 2007 When your plan year isn t the calendar year ESOP basics Set-up, distribution and diversification rules It doesn t have to be confusing Distributions of Roth

More information

YOUR COMPANY 401(k) PLAN

YOUR COMPANY 401(k) PLAN YOUR COMPANY 401(k) PLAN Paychex... Your Essential Partner We are pleased to offer this brochure as an overview to your company-sponsored 401(k) plan. The following pages outline your roles and responsibilities

More information

SEP/IRAs. A Valuable Retirement Benefit for You and Your Employees

SEP/IRAs. A Valuable Retirement Benefit for You and Your Employees SEP/IRAs A Valuable Retirement Benefit for You and Your Employees Stifel Nicolaus is a full-service securities firm with a distinguished history of providing clients quality advice and personal service.

More information

Invesco SIMPLE IRA Employee guide

Invesco SIMPLE IRA Employee guide Invesco SIMPLE IRA Employee guide Invesco SIMPLE IRA A Retirement Strategy for You Retirement. The word evokes dreams of relaxation and adventure. The sad fact is many people won t realize their dreams

More information

BuyerZone Employee Retirement Plans Buyer s Guide will:

BuyerZone Employee Retirement Plans Buyer s Guide will: Introduction As a business owner or manager, you want to attract and retain high quality employees. By offering retirement plans such as 401k or Individual Retirement Account (IRA), you can motivate potential

More information

PROFIT SHARING PLANS

PROFIT SHARING PLANS PROFIT SHARING PLANS Most small business owners are concerned about retirement, both for themselves and for their employees. The question isn t whether or not to implement a retirement plan. The two most

More information

Safe Harbor 401(k) Defined Contribution. Defined Contribution

Safe Harbor 401(k) Defined Contribution. Defined Contribution Feature Solo Basic plan type IRA based IRA based Who adopts Corporations, companies no common law corporations 100 or fewer eligible corporations and small businesses 100 or fewer Can sponsor other qualified

More information

J DARDEN INSURANCE & FINANCIAL SERVICES

J DARDEN INSURANCE & FINANCIAL SERVICES OppenheimerFunds Retirement OPPENHEIMER FUNDS SINGLE K SM J DARDEN INSURANCE & FINANCIAL SERVICES REPRESENTATIVE IS REGISTERED WITH AND OFFERS ONLY SECURITIES AND ADVISORY SERVICES THROUGH: PLANMEMBER

More information

2014-2015 Entrust Account Guide

2014-2015 Entrust Account Guide 2014-2015 Entrust Account Guide Helping You Direct Your Future Account Guide Individual Retirement Accounts Traditional and Roth IRAs Go To Section Small Business Retirement Accounts SEP and SIMPLE IRAs

More information

Salary Reduction Simplified Employee Pension (SAR-SEP) Plan Employer Adoption Agreement For Use with the Traditional IRA Application

Salary Reduction Simplified Employee Pension (SAR-SEP) Plan Employer Adoption Agreement For Use with the Traditional IRA Application december 2011 Salary Reduction Simplified Employee Pension (SAR-SEP) Plan Employer Adoption Agreement For Use with the Traditional IRA Application Employer s Guide to the SAR-SEP Plan Salary Reduction

More information

Retirement Plan Administration. Mercer HR Services. SERVICE 401(k) Compliance Testing Manual. A resource for testing information

Retirement Plan Administration. Mercer HR Services. SERVICE 401(k) Compliance Testing Manual. A resource for testing information Retirement Plan Administration Mercer HR Services FULL 401(k) SERVICE 401(k) Compliance Testing Manual A resource for testing information Copyright 2005 by Mercer HR Services. All contents are the confidential

More information

IRA PLAYBOOK PRODUCER TRAINING START. Life Insurance Company of the Southwest

IRA PLAYBOOK PRODUCER TRAINING START. Life Insurance Company of the Southwest PRODUCER TRAINING IRA PLAYBOOK START Life Insurance Company of the Southwest LR12965(0215-) Cat No 69705 (0215) Producer Training IRA PLAYBOOK National Life Group has created this Producer Training Playbook

More information

all clients and prospects"

all clients and prospects "This page must precede the attached PROPRIETARY DISCRETIONARY marketing material and be provided to all clients and prospects" Recently, the Global Wealth Management Group of Morgan Stanley & Co. Incorporated

More information

Invesco SIMPLE IRA Employee guide

Invesco SIMPLE IRA Employee guide Invesco SIMPLE IRA Employee guide How many years will you spend in retirement? And how much savings will you need to be able to live comfortably? According to the Employee Benefit Research Institute, 60%

More information

Employee Q&A. Questions and Answers About the Schwab SEP-IRA

Employee Q&A. Questions and Answers About the Schwab SEP-IRA Employee Q&A Questions and Answers About the Schwab SEP-IRA 2 Here are answers to some questions you may have about a SEP-IRA. Overview What is a Simplified Employee Pension (SEP) Plan? A SEP is a retirement

More information