What types of qualified retirement plans are available?
This plan allows Participants to contribute a set amount or percentage from their paycheck each pay period on a pretax basis, allowing Participants to defer taxation. Employers may also elect to match Participant deferrals, and/or make contributions based on compensation. 401(k) Plans can also be designed under new “Safe Harbor” formulas to automatically pass non-discrimination testing of deferral and matching contributions.

Defined Benefit
This is designed to pay a monthly benefit to Participants upon retirement. The amount of the monthly benefit can be based on a Participant's final average compensation or years of service, or a combination of both. This type of plan is 100% funded by the employer. Although it is not as flexible as a 401(k)/Profit Sharing Plan, a Defined Benefit Plan can generate a much higher deductible contribution and accrue benefits at a much faster rate.

Cash Balance
A cash balance plan is a type of defined benefit plan that has the characteristics of a defined contribution plan. Each year Participant accounts are credited with calculated contributions, based on compensation, and a prescribed interest rate, yielding hypothetical account balances.

Employee Stock Ownership
An ESOP provides a company's workforce with an ownership interest in the company. In an ESOP, companies provide their employees with stock ownership, often at no up-front cost to the employees. Shares are allocated to employees and may be held in an ESOP trust until the employee retires or leaves the company.

Cafeteria Plan
Cafeteria Plans are also known as “125″ plans or “flexible benefit” plans. This is a non-pension plan designed to allow employees to pay their share of health insurance premiums and/or pay dependent care and medical expenses on a pre-tax basis.