Choosing the Right Plan

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Regardless of whether your company is large or small, employer-sponsored retirement plans are the most popular and effective way for you and your employees to save for retirement!

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• Contributions are tax-deductible and can provide significant tax savings

• Employee contributions are not taxed until distributed (except for Roth)

• Contributions and earnings grow on a tax-deferred basis

• Helps attract and retain key talent

• Affords greater “buying power” for individuals by pooling retirement savings

• Offers protection of assets from creditors

 

There are many different types of plans with flexible options. A well-designed plan should:

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• Support the unique goals and objectives of the company

• Support employee participation and participant outcomes

• Be easy to understand and administer

• Not create undue administrative burdens for staff

• Work well within the company’s budget without any financial “surprises”

 

Whether you have an existing plan or are interested in starting a new plan, many factors determine which type of plan and the features will be best suited to meet your needs.