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Employees
Have to Ensure Their Own Retirement Security
Research shows that the majority of individuals
have failed to adequately prepare financially for their retirement.
Many believe – incorrectly – that Social Security will be sufficient
to supplement any retirement savings they accumulate. The popularity
of retirement plans is one result of the shift in responsibility for
retirement security from government and business to the individual.
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Sources of Retirement
Income*
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*For people over 65 with income greater than $18,200
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| Source: Social Security Administration |
The
Role Employers Play
It makes good business sense to provide your employees
with some of the tools that will help them plan for a financially sound
retirement. The government encourages employers like you to provide retirement
plans by granting these plans special tax treatment. If you have held
back from introducing a retirement plan into your workplace because of
concerns about the potential administrative and financial burden, Armada
Plus is the cost-effective solution you have been looking for. Further,
Armada Plus retirement plan permits your employees to "defer" part
of their compensation by placing that income in a tax-qualified retirement
plan for their benefit.
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Saving
with a retirement -
The Ticket to a More Secure Retirement
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$850 annual after-tax savings
($1,000 less 15% tax) with 5.1% after-tax annual investment return (6% return less 15% tax) |
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$1,000 tax deferred annual contribution
with 6% tax deferred annual investment return |
* $131,548 net after 15% tax on withdrawal
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| For illustrative purposes only - not reflective
of the specific performance of any particular investment. |
Armada
Plus Benefits:
Our prototype plan
saves you time and money. Our program includes an IRS-approved prototype
plan which eliminates the high cost of having a plan written from scratch.
Voice Response Technology
gives your participants control. Our toll-free, voice response system
provides participants with information on their account balances 24 hours
a day.
Semi-annual testing
for compliance keeps your plan operating flawlessly. The government has
established a range of conditions that must be met in order for a plan
to continue its tax-deferred status.
All the trustee
services your plan needs. As the sponsor of a retirement plan, you will
have to establish a trust and appoint a trustee to ensure that all contributions
are accounted for and properly invested.
Employee education
programs help build participation rates. We know that once employees understand
the need to save for retirement and the benefits of tax deferral, they
will be more willing to join your plan.
Investments that
match employees' needs and risk levels. The function of our program is
to give employees a real choice of investment products so that employees
can match their needs with their risk levels and invest more comfortably.
For more information on Retirement Planning, click on one of the buttons below or call a financial consultant at Armada.
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