Offering retirement plans isn't just good for employees, it's a smart business strategy. You can qualify for up to $16,500 in federal tax credits for starting a plan, reduce your annual tax liability through employer contributions, and become the employer of choice in your market. We handle plan setup, compliance, and administration so you get the benefits without the complexity or time drain.
Empower your team. Strengthen your business. Secure your future.
At NestWorth, we believe retirement planning shouldn’t be confusing, costly, or an afterthought. Whether you're a growing startup or a family-run business, we help you offer competitive, tax-advantaged retirement plans that support your employees and your bottom line.
At NestWorth, we believe retirement planning shouldn’t be confusing, costly, or an afterthought. Whether you're a growing startup or a family-run business, we help you offer competitive, tax-advantaged retirement plans that support your employees and your bottom line.
Benefits of a traditional IRA include:
A beneficiary IRA is established for the sole purpose of holding assets inherited by a beneficiary from the original account owner. (This type of account should not be established if a spouse has opted to take the account of their spouse as their own.) The account registration must include the name of the beneficiary and the name of the original (now deceased) IRA owner. A beneficiary IRA can be a traditional IRA or a Roth IRA depending on what type of account the original IRA was.IRS Publication 590-A and 590-B defines these plans.
Benefits of a Beneficiary IRA:
A rollover IRA is a traditional IRA exclusively used to hold money that is rolled over from a qualified plan. The benefits of keeping rollover money separate from contributory money declined with the passing of EGTRRA 2001 and the new portability rules.
Benefits of opening a rollover IRA include:
Roth IRAs first became available January 1, 1998. Eligibility to make new contributions and Roth conversions are based on Modified Adjusted Gross Income (MAGI) and filing status of the client. There is no need to keep contributory money separate from conversion money.
Benefits
A backdoor Roth IRA is not an official type of retirement account, but an informal name for a strategy used by high-income taxpayers to fund a Roth IRA, most often through a conversion. It allows clients who do not qualify to make contributions directly to a Roth IRA to contribute first to a traditional/SEP IRA, and then immediately convert those assets to a Roth IRA.
A Spousal IRA allows an unemployed or low-income earning spouse to open an IRA and have it funded by the employed spouse. This feature is available as a traditional IRA or a Roth IRA. The benefits of a spousal IRA are the tax deferred earnings. Earnings generated on contributions to an IRA are tax deferred. The earnings are not reported to the IRS, and IRA holders do not include earnings in an IRA on their tax return.
A Guardian IRA is established when the IRA owner has not reached the age of majority. The name of the guardian must appear in the registration of the account as well as the IRA owner. The guardian maintains control of the account until the minor reaches the age of majority. The minor must have earned income in order to make contributions to the plan. Funding can also come from the Guardian/Conservator, as long as the minor has earnings. A Guardian IRA may be established for a Roth IRA or a Traditional IRA.
The benefits of a Guardian IRA are:
A 401(k) plan is a type of defined contribution plan established by an employer. It is also known as a Profit Sharing 401(k). Tax-exempt organizations are eligible to establish these plans, but state and local governments generally cannot establish 401(k) plans.401(k) plans are governed by the rules of the Employee Retirement Income Security Act (ERISA), the Department of Labor (DOL) and the Internal Revenue Service (IRS).
Benefits:
An Individual(k) is a qualified retirement plan designed specifically for employers with no full-time employees other than the business owner(s) and their spouse(s). The plan operates the same as a 401k.
A defined benefit plan is an employer sponsored retirement plan providing a predetermined benefit to the participants. Once the retirement benefit objective is set, the employer contributions needed to meet the benefit objective are determined actuarially on an annual basis. The benefit objective is the controlling force and the contributions are simply a factor of that controlling force.
If the investments perform poorly, the employer must contribute an increased amount in subsequent year to counteract the poor investment performance to ensure the plan is able to satisfy the predetermined benefit objectives.
Most employers are eligible to establish SEP plans. This type of plan is most common among sole-proprietors. The following are the benefits of establishing a SEP IRA:
Benefits
A Savings Incentive Match Plan for Employees (SIMPLE) IRA is a retirement savings plan for small employers (less than 100 employees) who want a simple and cost-effective way to help their employees save for retirement.
Benefits
403(b) and 403(b)(7) plans are available only for non-profit 501(c)(3) and educational organizations. 403(b) plans can only invest in annuities or mutual funds and 403(b)(7) plans can only invest in mutual funds.
Benefits for Employees:
Benefits
Only eligible employers may offer Section 457 Plans. Eligible employers include state and local entities, hospitals, school districtions, and other tax-exempt organizations under IRC 501(c).
Section 457 Plans allow employees to defer a portion of their income into the plan. These employee deferrals and their earnings are not taxed until they are distributed from the plan.
