A Retirement Plan
Can Benefit You

Invest in your own retirement

You can setup an individual retirement plan and if you’re an employer set up a group plan for your employees.

A retirement plan may have these benefits for you and your employees:

• Potential growth of your investment earnings that’s tax deferred until you take a withdrawal or distribution.
• Reduction of your income tax bill – now or in the future (when retirement funds are withdrawn).
• Company matching of a portion of your contribution.

And, as a business owner (even if you're self-employed), you can usually invest more through a business retirement plan than through an IRA.

Assets withdrawn from a qualified plan may be subject to a 10% penalty tax if withdrawn prior to age 59½ and all may be subject to income tax. Keep in mind that investing involves risk, so there's no guarantee you'll reach your investment goals.

Choose a plan that suits your business

There are many types of retirement plans – 401k, 403b, IRAs, profit-sharing and defined-benefit (or pension) plans. Each has its own benefits, features, levels of complexity and administrative costs. Some are designed for large companies; others, for smaller enterprises. There may be tax implications, as well.