Benefits of Setting up Retirement Plans for Employees

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Setting up a retirement plan is beneficial for you, your business and your employees as well. When you invest today via a retirement plan, you and your employees can ensure good financial security during retirement. Moreover, you and your employees enjoy tax benefits and other incentives too.

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BENEFITS FOR BUSINESSES• Retirement plans can retain present employees & reduce

training costs.• Employer contributions are tax-deductible• Incentives and tax credits are offered to start a plan at

reduced costs.• Assets included in the plan grow tax-free.

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BENEFITS FOR EMPLOYEES• Employees get to improve financial security during

retirement.• Contributions can be easily made through payroll

deductions.• Compounding interest over time facilitates small periodical

contributions to grow significantly.

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BENEFITS FOR EMPLOYEES• Employee contributions help reduce current taxable

income.• Retirement assets are transferable from one employer to

other.• Contributions and investment gains will not be taxed until

they are distributed.

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ESTABLISHING A RETIREMENT PLAN• The necessary administrative steps include:• Adopting a written plan• Arranging funds for plan’s assets• Notifying eligible employees about plan terms• Maintaining a recordkeeping system

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Establishing and maintaining a retirement plan is advantageous for both businesses and employees!

For assistance on retirement plans administration, contact the experts at Heartland Consulting Group, Inc.

For details, visit heartcg.com or call (913) 649-3171.

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