We can empower your employees with educational tools to successfully manage their retirement objectives. 

Tools to manage your plan – By way of a few clicks, you have online access to compliance updates, management reports, plan balances, participant records, and market updates.
 

 401k Plans
 

Each year more and more  employers offer a company-sponsored savings or profit sharing plan. These plans take advantage of pre-tax dollars to help your employees save for retirement. The other main benefit of a 401k account is your employees only pay the taxes on the distribution they take during retirement, when they are likely in a lower tax bracket. 401k plans are tax-deferred plans.

A 401k is one of the many qualified retirement plans, because it meets the requirements of ERISA – the Employee Retirement Income Security Act of 1974.

Many plans also offer an employer or company match. The match is a valuable option to choose, because the plan matches your contributions to the plan. Over time, this match can substantially increase the value of on an individual's 401k account.

401k plans may offer an employee access to their account earlier than retirement, by using loans and early withdrawal in case of emergency. However, the tax penalties for early withdrawal, before 59 1/2 years of age, can be substantial and in many cases, 10% of the fund's value. In addition to the penalty, ordinary income tax will be due upon withdrawal.

 

Take full advantage of a powerful new web technology and an experienced team of specialist to administer your plan.

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To find out more call

(508) 384-7900 ext 22

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Last modified: January, 2006