Retirement Plans
There are many different types of qualified retirement plans. Each type of plan has its own special features and advantages. Therefore, it is important to find the right plan or combination of plans that meets the needs of the employer. EZ Pension Services administers and maintains all types of qualified retirement plans.
Establishing a qualified plan has many tax advantages:
· Employer contributions are tax-deductible
· Investment earnings are tax-free until distributed by the plan
· Employees are not taxed on contributions and earnings until they are distributed
· Employees may make pretax contributions to certain types of plans.
· Plan expenses are tax deductible
In addition, there are other advantages to establishing a qualified plan:
· Attracting key employees – retirement plans are part of compensation package
· Retaining and motivating employees
· Assisting employees in saving for retirement
· Plan assets are generally protected from creditors
