| 401 (K) Plans | |
| | Provide employers flexibility in their plan design - Maintenance costs are tax deductible business expenses
- Employee benefit includes deferment of income taxes on contributions and earning until withdrawal
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Profit Sharing
Plans | |
| | Ties contributions to company profits
- Encourages company growth and expense control
- Employer determines design, subject to IRS regulations
- Contributions and plan expenses are tax deductible
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| Money Purchase Pension Plans | |
| | Make fixed annual contributions to employees
- Contributions are mandatory
- Employer defines eligibility
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| Defined Benefit Plans | |
| | Traditional plan design
- Pays a fixed, pre-established benefit to retired employees who meet minimum in-service requirements
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| Simple IRA Plans | |
| | A plan for small businesses
- For employers with 100 or less eligible employees
- Must have no other retirement plan
- Affordable and simple benefit plan
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| Rollover IRA | |
| | Offer employees an option to protect existing retirement funds
- Offers retirees and new employees an option for their existing retirement funds
- FBTET Trust Officers can work with retirees to ensure their retirement money works for the long haul and with employees to ensure their funds are invested wisely
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