Customizing Your Retirement Plan
There are many ways to customize a retirement plan to meet your organization's unique business needs.
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Add-On Plans
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Roth Contributions
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Employer Contributions
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Plan Parameters
Add-On Plans
Employers can add supplement plansโlike cash balance, ESOP, nonqualified deferred compensation (NQDC) and moreโto help employees save even more for retirement and to increase business tax advantages.
Learn MoreRoth Contributions
A Roth option allows you and your employees to pay taxes on your retirement savings now, instead of when you take distributions in retirement. Providing a Roth option may reduce the overall taxes paid over the life of the investment and is an important part of a tax diversification strategy.
Plan Parameters
There are four main parameters that plan sponsors can designate for their plan.
- Vesting: Decide how quickly your employees fully own employer contributions.
- Automatic Enrollment/Escalation: Determine whether employees will be automatically enrolled in the plan and registered for annual contribution increases.
- Loans: Enable participants to borrow against their vested balance.