PROFIT SHARING

A Profit Sharing Plan is a retirement arrangement in which the company may make a discretionary contribution each year. These contributions are invested in a tax-deferred, creditor-proof trust. Tax-free earnings accumulate until the eventual distribution to participants or their beneficiaries. This payout usually occurs at retirement or some other specialized event (disability, death or termination of employment). Contributions are normally keyed to yearly profits, although profits are not required for a contribution to be made. Retirement benefits paid to employees are based on the amount in the participant’s account at retirement. Note that a profit sharing plan can include 401(k) features.

Profit sharing contributions may be allocated to each participant in proportion to pay, integrated with the Social Security Wage Base, or weighted on age and/or service with the employer.

Our services include:

–Accurate, efficient recordkeeping
–All required compliance testing
–Signature-ready government forms (like Form 5500)
–Daily valuation and trading
–Freedom to choose your own financial products, providers, trustees and custodians
–Age-weighted, cross-tested and new comparability plan features
–Phone and online account access
–Customized plan participant statements
–Plan participant education