The Right Qualified Plan For You
Partner with the experienced professionals at Integrated Wealth Management to determine which is the right qualified plan for you.
IRAs -- For individuals. Allows tax deductible contributions and the freedom to choose your investments. May be established to accommodate a rollover from an employer sponsored plan.
Roth IRAs -- For individuals. Allows after tax contributions and tax free distributions with the freedom to choose your investments.
SEP Plans -- Typically used in one-person or smaller businesses. Allows for larger contributions than an IRA.
Simple Plans -- Designed to make it easier for businesses with 100 or fewer employees to offer a plan with employee deferrals and employer matching without many of the administrative requirements of regular 401k or pension plans.
Keogh Plans -- Retirement Plans for self employed individuals..i.e sole proprietors, partners in a partnership. Plan design and operation can be similar to plans offered to corporations.
401k Plans -- Probably the most popular plan choice of employers. The plan allows for employees to defer pre-tax contributions to a retirement plan through payroll deduction. The employer is not required to make a contribution to a 401k Plan but most plans allow the employer the discretion of making matching or employer contributions. May include a Roth provision.
Profit Sharing Plans -- A discretionary employer funded plan. Contributions need not be made every year. Profits are not required to make a contribution.
Money Purchase Plans -- The employer contributes a defined or fixed percentage of the participating employee's compensation each year.
Age Weighted Profit Sharing Plans -- Flexible and discretionary employer contributions are allocated to provide an equal assumed retirement benefit as a percentage of compensation at normal retirement. May allow larger contributions for older participants.
New Comparability 401k Plans -- Also known as cross tested, tiered, or super integrated plans. Participants are divided into groups, with each group receiving an employer contribution that is a different percentage of compensation. A New Comparability Plan could be an option for an employer that wishes to reward key employees while contributing the minimum amount for other employees.
Defined Benefit Plans -- Employer contributes an actuarially determined amount sufficient to pay each participant a fixed or "defined" benefit at retirement. May allow the owner of a small business with few employees to make substantial deductible contributions.
To find out more about which is the right qualified plan for you, contact Integrated Wealth Management today.