StateTrust can advise corporations in establishing a corporate retirement plan. These plans are often used for employee retention. Qualified Plans allow a company and its employees to get substantial income tax breaks as long as the plan meets certain prerequisites.
There are several types of Corporate Retirement Plans:
| Qualified Retirement Plan Listing | |
|---|---|
| 401(k) plans | Employees make tax-deferred contributions to company-sponsored retirement plans. |
| Profit-sharing plans | Company contributions are invested and built up tax-free for participants/beneficiaries. |
| Pension plans | Companies guarantee employees a certain amount of money at retirement. |
| Keogh plans | For individuals with self-employment income (from unincorporated businesses). |
| Simplified IRA plans (SIMPLE) | Created for businesses with 100 employees or less, and self-employed individuals, these plans allow for bigger contributions. |
| SEP Plans | Designed for smaller businesses, this pension plan allows for contributions to IRAs that are tax-deductible for the employer. |
| Employee Stock Ownership Plans (ESOP) | Plans invest primarily in company stock and can borrow money for contributions. |
Retirement & Education Accounts