Pension Plans Companies can choose from a variety of alternatives to develop an employee pension plan that meets their budget and helps attract and retain top-notch employees. These plans were designed to enable companies of all sizes to develop a pension plan that meets their goals and resources. The benefits and specifications of each vary, and should be reviewed carefully. Companies may want to seek guidance when evaluating which plan will work best for their organization. Not Permitted When your plan is set up, it must 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. Get a FREE quote now Online 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.