Group Retirement Plans
For some business owners, retirement is what it is all about and for others it is a day they fear. No matter what you feeling is about retirement, it will come. At Red Rock Financial Group we want to make it a day that you look forward to with the confidence of knowing that you are financially prepared for a wonderful retirement. Whether you desire to travel around the world, go on a monthly fishing trip, or enjoy a latte every morning to start your day, we can build a plan for you and your employees that will support your desires.
What Are Retirement Plans?
At Red Rock Financial Group, we believe your employees are just as important as any other member of your business. As a result, we specialize in building plans with everyone’s future in mind. Retirement plans are generally plans offered by a company to its employees that provide income after retirement.
What Are The Different Plans and their Benefits?
There are many different plans available to you; here is a list of some of the most popular plans and some of their benefits.
| Plan Type | Description |
| Non-Profit Plans | Retirement plans that are built specifically for non-profit business. These plans are tax-deferred. |
| Non-Qualified Deferred Compensation Plans | These are plans for companies with employees that receive a very high income. As a result, they may be limited by the contribution limits of a qualified plan. |
| Taft-Hartley Plans | These plans are designed specifically for labor unions and their members. Members can be set up with either defined benefit or defined contribution plans. |
| Defined Benefit Plans | Also referred to as pension plans, these plans provide employees with an amount of income after retirement that is agreed upon when they join the company. Generally, it is a percentage of salary; however, it may also be based on tenure and age. |
| Defined Contribution Plans | These plans are retirement savings plans that are paid for by the company. Usually, both the employee and the employer will make contributions based on a proportion. These plans are tax deferred. The most popular defined contribution plan is a 401(k). |
Request a review
Retirement plans are a critical part of your business. One of our professional agents can review your business, your personal needs, and the needs of your employees to help build the best retirement plan possible. Click HERE to request a review of your company’s retirement plan.
