Corporate Retirement Planning
Contact UsPrioritize Your Employee's Retirement with Customized Corporate Retirement Planning
Creating an employee benefit program that is cost-effective for your business yet meets the needs of your workers is a challenge facing all business owners. Sound corporate retirement planning involves designing plans that benefit your employees while considering plan administration, tax implications, and plan compliance. Idaho Trust Financial can help you plan your company’s entire corporate retirement strategy or manage one particular aspect of your plans, such as testing or administration.
How Your Employees Benefit
- Saving for retirement through employer-sponsored plans can include automatic enrollment, payroll deductions, and guidance along the way.
- May reduce their taxable income from employee contributions
- Your employees retain ownership of their contributions
How Your Business Benefits
- You decide on the type of plan(s) to offer, how much you’ll contribute, and plan details.
- Employer contributions are tax deductible, and you may receive tax incentives.
- Retirement benefits serve as a powerful tool in employee recruiting and retention.
Types of Employer-Sponsored Retirement Plans
There are a number of different corporate retirement plan types and it's important to determine which fits your company best. Each type provides pros and cons, so meeting with an Idaho Trust Financial Advisor can help you determine the plan for you.
Traditional 401(k) Plans:
Traditional 401(k) plans are the most common contribution plan type, and they consist of the employee allocating pre-taxed money from their paycheck, with the employer typically matching a percentage.
Roth 401(k) Plans:
This plan is similar to a traditional 401(k) plan, except the contributions are taxed upfront rather than when they are withdrawn.
Pension Plans:
With a Pension Plan the employee, upon retirement receives reoccurring checks from the employer with the money they accrued during their employment.
Employee Stock Ownership Plans:
An (ESOP) is a retirement saving program where the employee invests in company shares rather than receiving a lump sum at retirement.
Work With a Corporate Retirement Planning Professional
Our financial advisors can help with all aspects of corporate retirement planning, including business insurance options, executive compensation, and deferred compensation plans.
Contact us to learn more about our corporate retirement planning.