Employers are searching for employees who are competent,
motivated, and loyal. One way to
motivate employees and to build their loyalty to you is to offer a qualified
pension plan.
The term “qualified” has one significant meaning for you as
the employer, and a different significant meaning for the employee. For you, a qualified plan presents an
opportunity for a tax deduction for your contribution to the plan. For the employee, the funds they contribute
to the qualified plan are often made on a pre-tax basis, and they provide for
income tax deferral while the funds are inside the plan.
The list of potential qualified pension plans includes the
following:
- SEP IRA for the
self-employed
- SEP IRA for the
employee of the self-employed
- Simple IRA
- Qualified Benefit
Plan – Traditional
- Qualified Benefit
Plan – Section 412(i)
- Defined
Contribution (Profit-Sharing)
- Combination
Qualified Benefit/Qualified Contribution
- 401(k) Plans
- 403(b) Plans
We understand the complex eligibility requirements of these
plans, and keep updated on changes to the rules of maintaining them to protect
their qualified status.
We are experienced at assisting clients to determine
the proper qualified pension plan for them to offer their employees in order to
motivate them and retain them a key contributor to the business.
