401(K) & Retirement Plans

For new qualified retirement plans, small businesses with 100 employees or less will be eligible for an annual tax credit of 50% on up to $1,000 of administrative costs for the first three years of a new plan. The credit is available only if at least one non-highly compensated employee is participating.

What are you doing to plan for retirement?

We help companies start, transfer, and maintain their retirement plans of all types.

Many experts agree that Social Security may not exist in the same form for future retirees as it does today, and was only intended to meet a part of one's retirement needs. It is more important now than ever before for everyone to plan for their retirement years.

One of the most popular types of retirement plans today are 401(k) Plans. A 401K Plan is a salary deferral retirement plan that allows an employee to contribute pre-tax dollars into an account that grows on a tax-deferred basis until they start receiving distributions, usually at retirement. However, withdrawals before 59½ may result in a 10% penalty. Employers can match contributions to enhance the employee's retirement savings. Matching rules will vary, depending on type of plan selected. Almost every type of business can set up a 401K Plan.

Other types of plans include: Simplified Employee Pension (SEP), Simple IRA, Simple 401(k), Profit Sharing Plans, and Defined Benefit Plans. Type of plan you choose will depend on the size of your business, whether or not you want to match contributions, vesting schedules, and the objectives of the plan.

Insuramerica can assist you with determining what type of retirement plan is best for your company.

Please contact us at info@insuramerica.com or call our Life, Health & Financial Services Department at 800-654-7892.