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Business Retirement Planning

If you are self-employed or own your own business, retirement planning is an important part of your business plan. It allows you to plan not only for your future, but also for the future of your employees.  Our Financial Services Team can help you professionally manage your retirement benefits and determine the best retirement option for your company.

Some of the retirement plan options we can assist you with include:

SEP (Simplified Employee Pension Plan)
A SEP IRA allows employers and self-employed individuals to establish a simple business retirement plan. The plan is flexible and allows you to make deductible contributions directly to a Traditional IRA for all qualified employees. As the employer, you may choose whether or not to make contributions from year to year.

SIMPLE-IRA (Savings Incentive Match Plans for Employees)
A SIMPLE-IRA is for companies with less than 100 employees who do not have another qualified retirement plan and are looking for a plan that is flexible and partially funded by employees. Employer contributions are not currently taxable to the employee and earnings accumulate tax deferred.

Single (K)
If you own a family business and you employ only immediate family members which includes your spouse, grandparents, children and/or grandchildren, this plan is a great option for you.

401(k)
A 401(k) is a salary deferral plan for employers. Employer contributions to the plan are tax deductible to the business* and the plan may provide a voluntary employer matching fund. The employer may make discretionary contributions any year, as long as allocation is nondiscriminatory.

Profit Sharing Plan
A Profit Sharing Plan allows you to control your company's plan. You have the option to make a discretionary contribution on behalf of your eligible employees and can choose to vary your contribution from year to year.

*Consult a tax advisor

 

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Investment products and services are offered through INFINEX INVESTMENTS, Inc. Member FINRA/SIPC. Insurance products are offered through Infinex Insurance Agency of Massachusetts, Inc. Infinex and the bank are not affiliated. Products and services made available through Infinex are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate. These products are subject to investment risk, including the possible loss of value.