Although choosing the appropriate retirement plan can be challenging, at QTC Group Benefits, we assist you through the process by educating you on the diverse types of retirement plans and features available in the current marketplace specific to your individual circumstances. In this capacity, our end goal is to select an optimal retirement plan for your organization and employees.

The most common Retirement Plans are:

Safe Harbor 401(k)

A 401(k) plan with a safe harbor provision automatically satisfies certain nondiscrimination testing requirements  imposed by ERISA. It also encourages plan participation from employees with lower wages, maximizes salary deferrals for employees with the highest wages, and is easier to administer.

Owner-Only 401(k)

This specially-designed 401(k) plan allows one-person businesses with no employees to maximize salary deferral contributions without compliance testing.

Traditional 403(b)

The most common retirement plan for Public School and 501(c)(3) organizations is a traditional 403(b). These plan types encourage employees to save for retirement through pretax and or Roth 403(b) contributions as well. With pretax contributions, taxes are deferred until your employees draw from their accounts. Roth 403(b) contributions are made post-tax, and can be withdrawn  income tax-free under certain conditions such as hardship withdrawals.

Profit Sharing

A key employee retention tool and flexible retirement plan, profit sharing allows companies to provide employer contributions to employee’s accounts. These contributions remain discretionary, regardless of profits, and can be allocated using new comparability  or a variety of other methods for highly compensated employees.

SIMPLE Plans

A Savings Incentive Match Plan for Employers (SIMPLE) plan makes it possible for companies with as few as two employees to establish a 401(k) or IRA. This plan is full-featured and upgradeable with ongoing support for you and your employees.

SEP IRA

A Simplified Employee Pension IRA is a retirement plan that an employer or self-employed individuals can establish. The employer is allowed a tax deduction for contributions made to the SEP plan and make contributions to each eligible employee’s SEP IRA on a discretionary basis.

Non-Qualified, Deferred Compensation

For the employer, NQDC plans are a means to attract and retain top performers. Equally important, NQDCs do not require discrimination testing and there are no contribution limits, allowing for greater flexibility. For employees, NQDC plans help fill the retirement income gap through virtually unlimited pre-tax deferrals and offers choice and diversity in quality investment alternatives.