Employee Benefit Plans
Provide yourself and/or your employees with vehicles to
enhance their retirement years. We provide Simple IRA Plans,
Self Employment Plans, and Individual Retirement Plans.
You'll have peace of mind knowing that your assets are being
handled by professionals. You remain in control of your assets
at all times. We provide simplified record keeping, such as
paying bills and collecting income; relieving you of the
your executor, we will carry out the instructions in your Last
Will and Testament in a caring, professional and impartial
Relieve family members of the burdensome responsibility of
handling an individual's financial affairs when he or she is
incapable of doing so.
You'll have peace of mind knowing that we will ensure
proceeds of your insurance policy are invested and distributed
to the designated beneficiaries in the manner as you have
directed in the trust agreement.
assured that your wishes, for the assets you worked hard to
accumulate, are carried out. Our team of professionals will
administer every aspect of your trust with the utmost care.
Retirement Accounts (IRAs)
Retirement Account Trusts
Individual Retirement Account
Trusts - Feel secure knowing that your retirement assets are
administered by experienced professionals.
A Simple IRA plan is a new
type of employer-sponsored retirement plan. A Simple IRA has
its own special features which will make it attractive to
many employers. If you are an employee and not an
employer, you will still benefit from understanding how a
Simple IRA plan works. An employee may enjoy substantial
tax benefits by participating in a Simple IRA plan. We
encourage you to consult with your tax advisor.
What Businesses or
Employers May Establish a SIMPLE?
To be eligible to have a
SIMPLE, an employer must meet two requirements:
First, an employer will be
eligible if it employed 100 or fewer on any day during the
year who earned $5,000 or more in compensation from the
employer during the year.
Second, the employer (or any predecessor employer) cannot
currently maintain during any part of the calendar year another
Qualified Plan. For these purposes, a Qualified Plan includes a
qualified retirement plan, a qualified annuity plan, a
governmental plan, a tax-sheltered annuity, and a SEP to which
contributions were made or benefits were accrued, for service in
the calendar year.
May a Sole Proprietor Establish a SIMPLE?
Yes. A sole proprietor may
establish a SIMPLE as long as the rules discussed above are
satisfied. When a self-employed individual sponsors a
SIMPLE, he or she is considered to be both the employer and
Why Would an Employer &
Its Employees Want a Simple IRA?
There are six simple reasons:
An employee, by making
elective deferrals, can defer current income taxation.
An employer is allowed to
deduct the cost of funds contributed to employees plan.
Income earned on the SIMPLE
deferrals is sheltered from federal and most state income
taxes until withdrawn.
Due to the effects of
compounding, the SIMPLE funds may grow into a sizable nest
egg for retirement.
Administrative costs are
generally substantially less than would be incurred under
a qualified plan.
Current IRA rules limit
deductibility for regular IRA contribution for employees
who themselves (or their spouse) participate in an
employer-sponsored retirement plan. However, an
employee's participation in a SIMPLE IRA may provide him
or her additional opportunities to save for retirement.
learn more about these money saving plans,
call us at 563.262.4215
or e-mail us