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A Group Retirement Plan Can Benefit Your Employees and Your Business

Setting up an employee retirement plan can be a smart way to provide for one of your key assets – your people – as well as benefitting you and your business.

A quality retirement plan can:

Provide for your employees

As a business owner, you take care of your employees through salary, medical care options and paid vacation time. So, why not offer a retirement plan that will help them now and in their retirement years?

You also may find that a retirement plan is an excellent tool for attracting and keeping valuable employees, as well as helping them attain a more financially sound future. 

Trim your tax bill

Establishing an employee retirement plan may offer tax benefits because:

Invest in your own retirement

You can invest money for your own retirement in the plan you set up for your employees.

A retirement plan may have these benefits for you and your employees:

And, as a business owner (even if you're self-employed), you can usually invest more through a business retirement plan than through an IRA.

Assets withdrawn from a qualified plan may be subject to a 10% penalty tax if withdrawn prior to age 59½ and all may be subject to income tax. Keep in mind that investing involves risk, so there's no guarantee you'll reach your investment goals.

Choose a plan that suits your business

There are many types of retirement plans – 401k, 403b, IRAs, profit-sharing and defined-benefit (or pension) plans. Each has its own benefits, features, levels of complexity and administrative costs. Some are designed for large companies; others, for smaller enterprises. There may be tax implications, as well.

Nationwide has offered group retirement plans since they were established. We can help you tailor a plan to the needs of your business.

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