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Just as you manage your practice to achieve a comfortable economical future,
your employee benefit program should reward your employees through a program
that could provide them with a comfortable retirement.
Pension Plans
PIAM can help you develop effective employee benefit programs that include
pensions, profit sharing, 401(k), and 403(b) plans.
IRAs
Individual retirement accounts are available to virtually any wage earner
at any salary. They are funded completely by individual contributions.
IRAs are usually held in an account with a bank, brokerage firm, insurance
company, mutual fund company, credit union, or savings association. They
provide either a lump-sum payment or periodic withdrawals upon retirement.
There are two basic types of IRAs: traditional and Roth. Contributions
to traditional IRAs may be tax deductible and are taxed upon withdrawal,
whereas contributions to Roth IRAs are not tax deductible but qualified
withdrawals are tax-free.
403(b) Plans
Tax-sheltered annuities or 403(b) plans are offered by tax-exempt and educational
organizations for the benefit of their employees. Upon retirement, employees
have a choice of a lump sum or a series of monthly payments. These plans
are funded by employee contributions, and these contributions are tax deductible.
Non-Qualified Deferred Compensation
Non-qualified deferred compensation can be combined with your group retirement
plan to help highly compensated employees achieve their retirement goals.
Programs such as this give you an advantage in attracting and retaining
key executives.
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