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Their Retirement is Your Business
Your employees depend on your business for their retirement. Offering a retirement funding option is a perk that can help keep loyal employees and encourage them to prepare for life after their working years. Plus, it’s an investment you can benefit from, too.
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It’s Tax-Deductible
Farm Bureau offers several types of retirement plans you can establish for your employees, and your contributions to any of them are tax-deductible – typically for both you and your employees.
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Protect Their Health, Too
Healthy employees are good for business. You can protect the health of the people working for you with employee health insurance coverage. I can help you learn more about employee health insurance options in your state.
Employee Benefits: Helping You Retain Your Best
There are two types of retirement plans – qualified and non-qualified:
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A Qualified IRA Plan
Provides you and your employees the opportunity to invest in retirement using pre-tax wages and income. In addition, earnings on the investment grow tax-deferred. When you or your employees begin receiving proceeds on the investment, you or your employees will be required to pay tax on the money you receive.
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A Non-Qualified Retirement Plan
Funded using after-tax wages and income. In many cases, earnings on the investment grow tax-deferred, and when you or your employees begin receiving proceeds on the investment, you or your employees will not be required to pay tax on the original investment.
