|
Hiring EmployeesEmployee Pension/Retirement PlansRetirement plans are savings plans that offer you tax advantages to set aside money for your and your employees' retirement. UPDATES: See Tax Information for Retirement Plans Community for the latest retirement plan updates to this Resource Guide. Whether you choose to have a SEP, SIMPLE or other IRA-based plan or you choose to have a qualified plan, retirement plans are a great way for you and your employees to save for retirement. You can deduct contributions you make to the plan for you and your employees. Earnings on the contributions are generally tax-free until you or your employees receive distributions from the plan in later years. Attracting quality employees can be very competitive. Having a retirement plan as part of the benefits package will make an employer a better choice over other employers. A trained employee is a valuable commodity. Retaining those employees can be difficult. Maintaining some type of a retirement plan will help retain trained employees. Showing your employees that you are taking a long term view for them will help morale. If a company cares for their employees, it will reap the benefits of a happier, more satisfied workforce. Important References:
Establishing a Retirement Plan:
Operating a Retirement Plan:
|