Setting the Expectation for Corporate Retirement Planning
We know that there are several options to choose from when considering corporate retirement plans
Choosing between different options like a SEP IRA, SIMPLE IRA, or 401(k)s can be a challenging hurdle for any company.
With retirement plans constantly evolving, PPWG™ starts by taking a step back. Retirement plans can be used to provide benefits, but can also be built out in several ways to accomplish goals. These may be retaining talent, compensation plans for executives, or lowering taxable income. Finally, our added transparency and fiduciary relationship guarantees that our clients do not take on unnecessary risk.
Take a deeper look at each of the Corporate Retirement options that Paragon Private Wealth Group™ can assist your business with.
- SEP IRA
- SIMPLE IRA
- 401(k)s
Setting the Expectation for Corporate Retirement Planning
We know that there are several options to choose from when considering corporate retirement plans
Choosing between different options like a SEP IRA, SIMPLE IRA, or 401(k)s can be a challenging hurdle for any company.
With retirement plans constantly evolving, PPWG starts by taking a step back. Retirement plans can be used to provide benefits, but can also be built out in several ways to accomplish goals. These may be retaining talent, compensation plans for executives, or lowering taxable income. Finally, our added transparency and fiduciary relationship guarantees that our clients do not take on unnecessary risk.
Take a deeper look at each of the Corporate Retirement options that Paragon Private Wealth Group can assist your business with.
- SEP IRA
- SIMPLE IRA
- 401(k)s
SEP IRA – Corporate Retirement Planning
What is a SEP IRA?
SEP IRA stands for simplified employee pension for individual retirement account. What this means is that it’s a retirement account that offers tax breaks for business owners and self-employed individuals who put money away for the future.
SEP IRA – Corporate Retirement Planning
What is a SEP IRA?
SEP IRA stands for simplified employee pension for individual retirement account. What this means is that it’s a retirement account that offers tax breaks for business owners and self-employed individuals who put money away for the future.
SIMPLE IRA – Corporate Retirement Planning
What Is a SIMPLE IRA?
A SIMPLE IRA stands for Saving Incentive Match Plan for Employees for an Individual Retirement Account. SIMPLE IRAs is mainly used by smaller businesses that tend to have less than 100 employees. Employers have the option to make a non-elective contribution of 2% of employee’s salary or a matching contribution of the employee’s contribution to the plan up to 3% of their salary.
SIMPLE IRA – Corporate Retirement Planning
What Is a SIMPLE IRA?
A SIMPLE IRA stands for Saving Incentive Match Plan for Employees for an Individual Retirement Account. SIMPLE IRAs is mainly used by smaller businesses that tend to have less than 100 employees. Employers have the option to make a non-elective contribution of 2% of employee’s salary or a matching contribution of the employee’s contribution to the plan up to 3% of their salary.
401(k) – Corporate Retirement Planning
What Is a 401(k) Plan?
A 401(k) is a retirement account offered by many companies to their employees. They are known as defined-contribution plans. These types of accounts have certain tax advantages, as well as set limits on what you can contribute. Employees can make contributions to their 401(k) accounts though automatic payroll withholding. The employers or company can match some or all of the contributions that the employee does. There are two different types of 401(k) accounts, traditional and Roth. In a traditional 401(k), funds are not taxed until the employee withdraws that money after their retirement. In a Roth 401(k), withdrawals can be tax-free. It is possible to have both a traditional and a Roth 401(k).
401(k) – Corporate Retirement Planning
What Is a 401(k) Plan?
A 401(k) is a retirement account offered by many companies to their employees. They are known as defined-contribution plans. These types of accounts have certain tax advantages, as well as set limits on what you can contribute. Employees can make contributions to their 401(k) accounts though automatic payroll withholding. The employers or company can match some or all of the contributions that the employee does. There are two different types of 401(k) accounts, traditional and Roth. In a traditional 401(k), funds are not taxed until the employee withdraws that money after their retirement. In a Roth 401(k), withdrawals can be tax-free. It is possible to have both a traditional and a Roth 401(k).
