As a business owner, there are many demands you face daily. You must effectively:
- Run your company
- Watch costs
- Understand your market/industry
- Manage employees
- Market to your customers
What about saving for retirement?
According to the Small Business Association, that's where too many small-business owners fall short. Lincoln Savings Bank can help. We offer a variety of employer-sponsored retirement plan options, customizable to your business' needs:
- SEP
- SIMPLE
- 401(k) Plan
- Safeharbor 401(k)
- Single 401(k)
- Profit Sharing
- Payroll deduct Traditional IRA
- Payroll deduct Roth IRA
As an employer, a company retirement plan may help you:
- Save for your own retirement
- Receive tax credits and other incentives from the federal government
- Attract - and keep - better employees
- Realize increased worker productivity, especially if your plan is connected to company profits
- Deduct all employer contributions from current taxes
Your employees (and you) may benefit because they can:
- Invest for the future
- Put away more money for retirement through most small-business plans than they might otherwise be able to save through a personal IRA account
- Realize tax-deferred growth on their investments
- Be more content (and therefore more motivated) with a benefits package that includes a company retirement plan
- Take advantage of the knowledge and expertise of the financial professionals at Lincoln Savings Bank
Contact us today if you want to learn whether an employer-sponsored retirement plan makes sense for your business.