Lots of Benefits – when you set up an employee retirement plan

Home Fairmark Forum Retirement Savings and Benefits Lots of Benefits – when you set up an employee retirement plan

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    duyvh0309
    Participant

    The route to retirement security is the right retirement plan. We’ll help you along the way!

    Did You Know that retirement can last for 30 years or more?

    you might need up to 80% of your current annual income to retire comfortably?
    the average monthly benefit paid by the Social Security Administration is $1,200?

    Why should you set up a retirement plan, and what are some of the benefits?

    A retirement plan has lots of benefits for you, your business and your employees. Retirement plans allow you to invest now for financial security when you and your employees retire. As a bonus, you and your employees get significant tax advantages and other incentives.

    Business benefits

    -Employer contributions are tax-deductible.
    -Assets in the plan grow tax-free.
    -Flexible plan options are available.
    -Tax credits and other incentives for starting a plan may reduce costs.
    -A retirement plan can attract and retain better employees, reducing new employee training costs.

    Employee benefits

    -Employee contributions can reduce current taxable income.
    -Contributions and investment gains are not taxed until distributed.
    -Contributions are easy to make through payroll deductions.
    -Compounding interest over time allows small regular contributions to grow to significant retirement savings.
    -Retirement assets can be carried from one employer to another.
    -Saver’s Credit is available.
    -Employee has an opportunity to improve financial security in retirement.

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