Overseeing a Qualified Retirement Plan can feel like an overwhelming process, which is why TriStar is here to help. Let us take on your retirement plan administration tasks so that you can get back managing your own business. Our staff receives continuing education to stay current on the ever-changing regulations put forth by the Department of Labor and Internal Revenue Service. We possess the knowledge that ensures your qualified retirement plan remains compliant with these complicated regulations and we can design a plan which optimizes the retirement outcome for your business and your employees.
What is a Qualified Retirement Plan?
A qualified plan, such as a 401(k) plan, must meet certain requirements set forth in the Internal Revenue Code, including minimum coverage, minimum participation, vesting, and funding requirements. In return, the IRS provides tax advantages to encourage businesses to establish retirement plans. Some of these tax benefits include:
Advantages of Sponsoring a Qualified Retirement Plan
Help employees save for their future. Social Security benefits alone will be an inadequate source to support a reasonable lifestyle for most retirees.
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