IRAs

An Individual Retirement Account (IRA) can be a great tool to help you fund your retirement, combining the benefits of tax deferral with potential interest compounding. Traditional IRAs are among the most widely utilized retirement vehicles available today. They are ideally suited to individuals who wish to invest during their earning years.

Roth IRAs

Roth IRAs allow eligible individuals to make annual contributions of up to $6,000 or 100% of compensation, whichever is less, depending on filing status and adjusted gross income. The greatest advantage of a Roth IRA is that it may enable individuals’ contributions to accumulate tax-free.

401(k)s

Establishing a 401(k) retirement plan for employees can offer many benefits to business owners by attracting and retaining good employees, providing valuable tax advantages, and creating greater retirement security not only for employees but for owners and their families. It also is a highly regulated and complex area that–if not handled correctly–can burden owners with additional responsibility and potential liability.

403(b)s

A 403(b) type plan is a retirement savings plan funded by employee contributions, and in many cases matching contributions from the employer. Your contributions, which are taken from pre-tax salary, can be invested in a wide variety of mutual funds of your choosing and grow tax-free until withdrawn. The features of a 403(b) plan are very similar to those of a 401(k) plan but have been designed for  employees of public schools, tax-exempt organizations, and certain ministers. 

Cash Balance Plans

A Cash Balance Plan is a form of Defined Benefit Plan, but it also incorporates features of a Defined Contribution Plan. These plans are mostly designed for business owners, whose business is well established and are looking for significant savings for retirement (above and beyond what can be saved in a traditional 401(k) profit sharing plan).

Schedule a Complimentary 401(k) Assessment for Your Business