457 plans can offer added value for those employees wishing to maximize retirement contributions. It is the only plan currently available that can be established in addition to other plans for twice the contribution limit.
A financial plan can benefit you in multiple ways. It will put you in control of your financial future based on realistic goals, help you organize your financial information, and provide a strategy for future decision-making, investment, and wealth management based on your long-term objectives.
A profit sharing plan is a plan that allows the flexibility of making tax-deferred contributions to employees in any given year or not. It is great for unpredictable or changeable cash flows since there is no promised benefit.
Safe Harbor provisions can be added to an existing plan to allow the owners and key employees to maximize their personal contributions. This also can be a way to encourage increased savings for retirement by employees.
A SIMPLE (Savings Incentive Match Plan for Employees) plan is easy to administer and are designed for sole proprietors and small businesses, with fewer than 100 employees, to offer a tax-advantaged company sponsored retirement plan.
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