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.
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
Similar to a 401(k) and designed for tax-exempt organizations such as:
- public schools
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
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
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
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
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
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- any earnings grow tax-deferred until withdrawn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