Business Retirement Plans
Considering a Retirement Plan for Your Employees?
Offering a retirement plan can make your business more competitive and help you attract top talent. Fifth Third Securities offers a variety of strategies to help meet your company's particular needs.
As a business owner, you can choose from a variety of Fifth Third Securities business retirement plans when you need a practical way to help employees save:
- Solo and Group 401(k)
For business owners who have employees, Fifth Third Securities can help establish and maintain a 401(k) plan. A traditional 401(k) plan allows participants to make pre-tax contributions. It offers employers flexibility and allows them discretion to make contributions, such as a matching contribution on behalf of employees. We can also assist business owners who do not have employees, with a solo 401(k) qualified retirement plan.
- SEP (Simplified Employee Pension Plan)
This type of plan, which is available to any size business, does not have the same start up and operating costs of a regular retirement plan. Only the employer can contribute and the employee is always 100% vested in SEP-IRA money.
- SIMPLE (Savings Incentive Match Plan for Employees)
This is an IRA-based plan for small business owners with fewer than 100 employees who have each earned $5,000 or more in compensation during the preceding calendar year. The plan allows participants to make pre-tax contributions and can be a cost-effective alternative to a 401(k) plan.
- Retirement Plan (Profit Sharing/Money Purchase Plans/Keogh)
Any size business can establish a profit sharing plan, which may be appropriate for your business if cash flow is an issue because contributions are discretionary; for 2011, maximum annual contributions are the lesser of 25% of an employee's compensation or $49,000 (or more if there are catch-up contributions). A Money Purchase Plan requires the employer to make contributions according to a contribution percentage preset in the plan. If you are self-employed, we can help you set up a retirement plan for self-employed people, formerly referred to as a Keogh plan.
Get Advice and Guidance
For more information about Business Retirement Plans, contact a Fifth Third Securities Investment Professional, visit a Fifth Third Banking Center near you, call us toll free at 1-800-416-8714, or fill out a contact form.
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