Employer Plan Services
Conventional wisdom says that strong company benefits programs can be a key factor in attracting and retaining quality professionals in almost any field. But what may be less known is that the right retirement savings plan can provide significant tax savings for the employer over alternative compensation arrangements.
In fact, recent changes have increased the maximum allowable employer contribution limit to 25% of income in some profit sharing plans, providing a significant opportunity for tax savings. Other plans can use age weighted formulas, or social security integration formulas to allocate employer contributions to select groups of employees or owners.
With a wide range of plan types available, the options are diverse and can be overwhelming. Involving a tax professional in the selection process is almost always advisable. Choosing the right plan requires a clear understanding of the company's primary objectives.
Our financial advisors can work with you to compare the features of SEP-IRAs, SIMPLE IRAs, 401(k) plans, profit sharing plans, or voluntary payroll deduction plans.
We also provide on-site financial planning services for all employees to ensure a smooth introduction of the new benefits.
Through Verity Asset Management, we also offer solutions for Group Disability Insurance, key person insurance and insurance for buy/sell or cross purchase agreements.