Your Berkshire Life agent will help you determine if a qualified retirement plan makes sense for you, and, if so, what type of plan suits your needs. Then we'll do the hard part - designing a pension plan that works hard for you. We'll also provide the services necessary to keep your pension plan functioning smoothly. Dollar for dollar, the Berkshire Pension System offers more services than any other plan we know of. Designing your plan When we set up your plan, it will comply with IRS requirements and, at the same time, be specifically tailored to get you the maximum tax advantages allowable in your particular situation.
Contributions are tax-deductible as a business expense.
Contributions are not taxable to the employee. Distributions made to employees may be rolled into an individual retirement account, where earnings can continue to accumulate on a federal tax-deferred basis. Death benefits can be arranged for favorable tax treatment. Furthermore, in most cases, with the right plan design the biggest benefits can go to you, the owner, as well as to other key people you designate. Who will participate - You can establish eligibility requirements, such as minimum age limits and waiting periods, to limit participation to those employees you expect will remain with the company until retirement.