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An Excellent Tool for Attracting and Retaining Employees
A quality retirement plan may be a way for your clients to reduce their company’s tax burden and invest for their own retirement. It can also be an excellent tool for attracting and retaining the valuable employees who help make your client’s business successful.
Group retirement plans 401(k)
With a 401(k), your clients’ employees take an active role in building a retirement nest egg. Employees decide how much to contribute to their personal 401(k) accounts … and they typically get to decide how to invest it. Your clients can help them feather their nests by matching a portion of their contributions.
And not only are their employees investing in their retirements … they have the added benefit of reduced income taxes because 401(k) contributions are made with pretax dollars. The money in a 401(k) isn’t taxed until the employee starts taking withdrawals at the age of eligibility.
The Nationwide Corporate Incentive Program®
We understand that deferred compensation can be a complex and confusing topic. To alleviate the stress and confusion associated with this type of executive benefit, we’ve created The Nationwide Corporate Incentive Program (TNCIP). We’ve brought together industry leaders in various aspects of deferred compensation and combined their specific expertise into one easy–to–use package.
For more details please see the TNCIP brochure.
The Nationwide Corporate Incentive Program is federally registered service mark of Nationwide Mutual Insurance Company.
Profit sharing plans 401(a)
With a 401(a) plan, your clients can share their company’s profits with the very people who helped make them profitable. Your clients decide when, if, and how much to contribute. And, did you know that they can make contributions even if they didn't make a profit!
Pension plan 412(i)
When your clients set up a defined benefit plan (aka a pension plan) they are promising their employees a certain amount of retirement income. The amount is based on the formula they establish and is usually based on factors such as age, length of service and salary.
This product is offered through our Brokerage General Agency (BGA).
Business IRAs
If your clients own a small business, they can create a simple retirement plan solution with an individual retirement account. Pick the plan that’s the best fit for their situation:
Simplified Employee Pension (SEP IRA)
If your clients are self-employed, they may really appreciate this plan for themselves and their employees. They contribute directly to their employees’ accounts. There aren't administrative fees and, even better, no complicated tax filings. Their employees can't make contributions.
Savings Incentive Match Plan for Employees (SIMPLE IRA)
If your clients own a business with 100 or less employees, look over this plan. It allows your clients AND their employees to make contributions.
Producers must be appropriately registered and licensed in the states in which they conduct business in order to offer the referenced products.
