Secure your employees’ Future

401 (k)
Section 401(k) of the Internal Revenue Code allows employees to contribute a portion of their annual compensation into their own tax-deferred retirement plan. A 401(k) Plan enables participants to save money for retirement and also reduce current income taxes. To encourage participation, most employers match a portion of employees’ contribution.

Simple IRA
For business owners with 100 or fewer employees who would like their workers to share the responsibility for their own retirement savings, but who don’t want the complexity, cost, and administration of a 401(k). “SIMPLE” stands for Savings Incentive Match Plan for Employees. It’s payroll deduction feature permits an employee to make pre-tax salary deferral contributions in addition to the employer’s contribution.

SEP IRA
SEP IRA stands for Simplified Pension IRA. It’s a tax deferred retirement plan for small business owners, where the employer makes deductible contributions to an employee’s IRA account.

Pensions
A pension is a steady income given to a person (usually after retirement). Pensions are typically payments made in the form of a guaranteed annuity to a retired or disabled employee. Some retirement plan designs accumulate a cash balance (through a variety of mechanisms) that a retiree can draw upon at retirement, rather than promising annuity payments. These are often also called pensions. In either case, a pension created by an employer for the benefit of an employee is commonly referred to as an occupational or employer pension.

403(b) / 457
These plans are for non-profit organizations, schools, colleges, universities, or hospitals. These plans allow for employees and/or employers to set aside money for retirement.