Penn Rise Advisors can help employers, large and small, design a retirement plan tailored to their needs and their employees. Our comprehensive service provides employers with custom retirement plan design, employee education and enrollment and assistance with investment selections. We also assist in needs analysis of the company, tax and payroll considerations and implementation.
Below are some of the plans an employer has to choose from and useful information on each option.
- 401(k)
Corporate Retirement Plans and Investments from Penn Rise Advisors
A 401k Plan is a defined contribution plan offered by a corporation to its employees, which allows employees to set aside tax-deferred income for retirement purposes, and in some cases employers will match their contribution dollar-for-dollar. Taking a distribution of the funds before a certain specified age will trigger a penalty tax. The name 401(k) comes from the IRS code section describing the program.
- SEP IRA
- SIMPLE IRA
- 403(b)
These plans are typically reserved for churches, schools, hospitals and municipal workers. The funds grow tax deferred until withdrawn in retirement.
- 457
These plans are typically reserved for churches, schools, hospitals and municipal workers. The funds grow tax deferred until withdrawn in retirement.