|
|
|||
|
Defined Benefit Pension PlansContributions are actuarially determined to provide
the maximum contributions allowed by law based on the funding formula
written into the plan document. The Plan sponsor/employer
contributes on behalf of 'eligible' employees as they approach retirement years. The
contribution amount
will change from year to year, targeting a specific benefit defined by the plan. Many different allocation techniques are available, allowing plan design to favor
certain classes of employees. Contributions are not included in employees' income for income tax or Social Security
tax purposes. Earnings in the plan grow on a tax-deferred basis.
The plan enhances the company's ability to attract and retain "top notch"
employees. A good choice for solid companies with a desire to maximize plan deposits
with deductible contributions. |
Retirement Plans Other Links |
|
|
|
Information is provided for review and consideration only. Please consult legal and tax advisors for practical advice pertaining to your business and personal situations. This page was last reviewed and/or updated on Friday, August 13, 2010 10:46 AM |
|
|
|
|||