At StateTrust we offer qualified retirement plans for both individuals and corporations. Such plans need to meet the requirements of the US Internal Revenue Code and as a result are elegible to receive certain tax benefits.
These requirements include:
- Plans need to maintain sufficient funding levels.
- Plans must be administered according to a plan document.
- Benefits should start at retirement age (between 65 and 70 ½ depending on employment status)
- Plans may not discriminate in favor of highly compensated employees.
One of the best methods of saving for your later years is through retirement plans. A large number of company retirement plans fall into the category of qualified plans. They offer excellent tax advantages for both companies and employees. As long as your retirement plan meets certain prerequisites, you can defer taxes on the amount of money that you contribute to the plan until you start taking distributions, which might not happen for many years.
The benefits to you are as follows:
- Saving a specified amount of money every year.
- Receiving income tax breaks on income that goes into the plan.
- In some cases, your employer matches part or all of your contribution.
Among the retirement plans offered by StateTrust are:
- Simple IRA
- Educational IRA
- Roth IRA
- Traditional IRA
- SEP Retirement Plans
- 401 K Retirement Plans
Retirement & Education Accounts