One of the most frightening things that comes with aging is the possibility of running out of money. A qualified retirement plan not only benefits individuals but also their employers. For the employer, offering great retirement plans can attract qualified individuals and offer a better package. Other than employee elective salary deferrals, the deduction is not subjected to social security and medicare taxes. Thus it is safe for both the employee and the employers.
Our team of financial planners at A New Path Financial has been experienced in assisting clients in the Ann Arbor area to make qualified retirement plans. If you are in the same area, you can contact us to start building your retirement plan.
How Employers Benefit
- It gives tax breaks to employers for the contribution they make to their employees
- With a qualified retirement plan, companies can attract top-talent employees
- Use a vesting schedule, like having no forfeit able rights to employer contribution encourages employees to stay with the same employer
- Compensation is likely to be higher than that of employees
How Their Employee’s Benefits
- For employees, plan contribution is not currently taxed
- Accumulates of retirement funds
- They receive additional benefits from the forfeitures of the non-invested accounts of those employees who do not stay with the employer for long to become fully vested in long-term participants.
- The contribution is made through payroll deduction
If you are thinking about where to invest money or if you have a company that wants to help their employees create a plan for retirement. meet our experienced team at A New Path Financial. We are ready to help you with your qualified retirement plan in Ann Arbor, Michigan and help you achieve your financial goals. In the world of finance, life can be hard to make a better decision but with our team of experts, we promise to make things go smoother. We provide the knowledge, concept, method, and ideas to get you on a path to achieve your financial goals.