Our team is located in Central Ohio and have spent the last 35 years working with local and national businesses to service all of their employee benefit needs.We pride ourselves in being great leaders in the industry and advocates for our clients.According to an IRS publication on the matter, “Under a Simple IRA plan, employees and employers make contributions to traditional Individual Retirement Arrangements (IRAs) set up for employees (including self-employed individuals), subject to certain limits.” In a Simple IRA plan, the employer establishes an individual Traditional IRA account for each of his or her employees.
Our team is located in Central Ohio and have spent the last 35 years working with local and national businesses to service all of their employee benefit needs.We pride ourselves in being great leaders in the industry and advocates for our clients.Tags: Solve My Word Problem OnlineSociology Research Paper On HomelessnessArguement Essay OutlineEssays About John Nash19th Century English EssayistsHow To Write A Dissertation Literature ReviewCollege Of Charleston EssayTopics For Problem Solution Essay
Pension planning can be a crucial part of ensuring a secure and comfortable retirement.
The sooner you invest in a pension the more you will have available to make the most of your retirement.
The term "SIMPLE IRA" serves as an acronym for Savings Incentive Match Plan for Employees Individual Retirement Account (IRA).
This type of IRA makes sense for small businesses in part because of its more affordable maintenance costs than other retirement plans.
I love to cook for family and friends and am always open to try new things.
I am an Accredited Investment Fiduciary (AIF), Chartered Retirement Plan Specialist (CRPS) and hold my Series 65 License and Life and Health License.Business owners have a wide variety of design options to consider when looking to implement a retirement program for themselves and or their employees.From SEP and SIMPLE IRAs to Profit Sharing, 401(k) and Cash Balance, we will explore the pros and cons of the available options to help you navigate the complex world of retirement plans.Additionally, if an employee participates in any other plan during the year and has elective salary reductions under those plans, the employee can contribute a maximum of ,000 across all plans.Employees can make Simple IRA withdrawals before retirement age, but not without serious repercussions.Outside of my professional life, I am a full-time husband to my wife Kaitlyn (NP) and an avid golfer.We currently live in Powell Ohio and enjoy traveling and attending local events here in Columbus.By taking action early on, there is a greater chance you will be able to adequately fund retirement.If you think you can’t save for retirement because you are self-employed think again.The IRS considers Simple IRA withdrawals as income to the account holder, so the money will be subject to regular income taxes.The IRS assesses a 10 percent penalty for early withdrawal on all Simple IRA account withdrawals before the age of 59.5 years old, and even worse, if the employee makes those withdrawals within the first two years of participation in the Simple IRA plan, the IRS increases the 10 percent penalty tax to a whopping 25 percent.