Services for Businesses, Organizations and Self-Employed Individuals
Retirement Plans
The retirement plan can be one of the most valuable and important benefits that an employer can offer employees. Sponsoring a retirement plan can be an excellent way for business owners to reward employees with an important benefit program, while simultaneously providing potential tax advantages to their business.
Whether you are choosing a retirement plan for the first time or considering changing your current plan to one that better suits your needs, I can assist you in selecting a plan designed to meet your goals and your budget.
Plan Types:
SEP - Designed for employers that wish to establish and contribute to a retirement plan for their employees, while keeping plan administration responsibilities to a minimum.
SIMPLE IRA - Allows employees to invest part of their salary pre-tax and defer paying taxes on the earnings until the money is withdrawn, and receive a mandatory employer contribution.
Payroll deduction IRA - Convenient way for employees to make regular contributions to their own Traditional IRA or Roth IRA.
Profit sharing plan - Allows a company owner to make a deductible and discretionary company contribution to employees each year.
Money purchase plan - Allows a business owner to make a deductible and pre-determined annual company contribution percentage to employees.
401(k) - Qualified profit sharing or stock bonus plan that contains a "cash-or-deferred arrangement" (CODA) for pre-tax salary deferral option.
Defined benefit plan - Designed to pay a pre-defined benefit at retirement.
TSA/403(b) - A retirement benefit plan for employees of educational institutions and certain tax-exempt organizations, such as a hospital or a religious or charitable group.
*Withdrawals from a retirement plan prior to age 59½ may be subject to a 10 percent federal penalty and ordinary income taxes.
Financial Planning and Investment Services
Building a business or organization is no simple task; it takes a great deal of initiative and requires a lot of time and dedication. Furthermore, it requires careful long-term planning and goal-setting. A Financial Advisor with LPL Financial, working together with your other business and legal advisors, can help you put together a plan by using a personal, professional planning process. Contact us to discuss these services and how they may fit in with your organization.
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