Business Retirement Services
Retirement plans are among the most important benefits a company can offer its employees. At Frost, we know every employee, just like every business, is different. That’s why we work with you to create a retirement plan that meets your company’s unique needs, and the individual needs of your employees. We can also administer and manage your plan assets, and provide investment-planning services to your employees.
401(k) Plans
One of the most popular retirement vehicles for businesses that offers employees benefits such as:
- Helps employees save for retirement
- Taxes deferred on contributions and earnings until withdrawal
- Investments can be a mix of mutual funds, company stock, individual securities, real estate and more
403(b) Plans
Similar to a 401(k) and designed for tax-exempt organizations such as:
- Public schools
- Non-profits
- Ministries
Profit Sharing Plans
A defined contribution plan that:
- Provides employer with discretion over profit sharing contributions
- May be combined with a 401(k) plan
- Features tax deductible contribution and plan expenses
Defined Benefit Plans
Pays a fixed, pre-established benefit to retired employees who meet minimum in-service requirements such as:
- Tenure (years served) with the company
- Salary level
- Other factors determined by the plan, such as age
SIMPLE IRA
These plans are tax-deferred and are:
- For employers with 100 or fewer eligible employees
- For employers with no other retirement plan
- Subject to annual contribution limits
Money Purchase Pension Plans
Your company makes fixed annual contributions to each participating employee's individual account.
- Contributions are mandatory
- Employer defines eligibility
- Contributions usually based on a percentage of employees' income
Non-Qualified Plans
Targeted to meet the specific needs of executives and other select employees.
- Often used to provide additional compensation to key employees
- May supplement qualified retirement plans for higher paid employees
SEP IRA
An ideal retirement program for self-employed people or small business owners due to high annual contributions limits and minimal administration.
- Annual contributions are discretionary and tax-deductible to the employer
- 100% immediate vesting
- Any earnings grow tax-deferred until withdrawn
- Fewer administrative requirements than qualified plans
