|
• Simplified
Employee Pension (SEP)
•
Simple IRA
•
Profit Sharing
•
Age-weighted/comparablility profit
sharing plans
•
401(k) profit sharing
•
Safe-harbor 401(k)
•
Owner only/one-person 401(k)
•
Defined benefit pension |
Every owner of a business faces very real challenges. Whether your
business is new, growing or mature, The Oxford Group of Raymond James
can provide the kind of insight that helps you thrive.
Your business is unique. The Oxford Group works with you as a partner
in your success, taking the time to understand your financial situation,
your business goals and your plans for your family’s future.
Work with an advisor who has experience addressing the issues whose
resolution can make a real difference for your business – and
your life.
Choosing the Right Retirement Plan for Your Business
Many business owners today are faced with an increasing need to provide
a retirement benefit for themselves and their employees. The Oxford
Group and Raymond James listens to and understands that helping you
and your employees plan for retirement are top priorities. Selecting
the right retirement plan for your business is a crucial step and
providing one has many benefits.
One advantage is that contributions to a retirement plan today can
help you meet tomorrow’s goals of financial security.
Another is that establishing a retirement plan may provide tax advantages.
Eligible contributions are deductible expenses to your business and
all contributions grow tax-deferred until withdrawn.
Still another benefit is that it can create positive employee relations,
helping to attract and retain quality employees, while reducing turnover.
For many business owners, the question is not “Should I implement
a retirement plan?” Rather, it is “Which plan is right
for my business?” The choices are many: SEP, profit sharing,
401(k), SIMPLE IRA and defined benefit to name a few.
The following links will hopefully help to resolve some of the confusion
caused by the wide range of choices available to business owners like
you. It offers an overview of the features and advantages of the different
types of plans, as well as a chart that provides a more detailed look
at the specific characteristics of:
•
Simplified Employee Pension (SEP)
•
Simple IRA
•
Profit Sharing
•
Age-weighted/comparablility profit
sharing plans
•
401(k) profit sharing
•
Safe-harbor 401(k)
•
Owner only/one-person 401(k)
•
Defined benefit pension
1 Addionally, eligible small employers will recieve a tax credit equal to the lesser of $500 or 50% of the start-up costs associated with the plan.
|
|
|
_r1_c1_r5_c15.jpg){kind=small}
_r1_c1_r8_c15.jpg){kind=small}