Types of Plans
To help you take the first step to finding the right plan for your business, you'll find below a simple summary of the key features and advantages of some of the types of retirement plans we offer.
These summaries compare the relative administrative expense and complexity of each type of plan to the rest of the group. Plans may contain various features, such as a profit sharing plan with a 401 (k) feature. You may also, in certain circumstances, combine plans.
If your company is faced with the need for flexibility and the need to maximize tax deductible contributions, you might consider sponsoring two plans --- a Defined Benefit plan and a Profit Sharing plan or 401(k) Profit Sharing plan might be in line. The Defined Benefit plan can significantly add to the contribution level while the 401(k) and/or Profit Sharing can provide great flexibility to employee and employer alike.
If you'd like more details about the different plans and how they may work best for you and your company, please do not hesitate to contact us.