Protect Your Employees With a Comprehensive Retirement Pension Plan
Always Ready Solutions understands the importance of a solid retirement pension plan to ensure employees are prepared and protected for retirement. Retirement pension plans, also known as defined benefit plans, are a type of retirement plan in which an employer promises to pay a specific benefit amount to employees upon retirement. The benefit amount is typically based on an employee’s salary and years of service with the company. Retirement pension plans are funded by the employer and the employee, with contributions made throughout the employee’s career. Upon retirement, the employee receives a guaranteed monthly payment for the rest of their life.
Annuities
Annuities are typically purchased to provide guaranteed income today or in the future. Often, they are bought to supplement retirement income and social security benefits. Consider an annuity if you want to set money aside and earn a guaranteed tax-deferred interest rate. There are two different forms of annuities:
- Immediate – provides income payments that generally begin within a year after the premium is paid.
- Deferred – provides income payments that begin later, often after many years. Deferred annuities are designed for long-term savings purposes.
The Benefits of Annuities
- Annuities are the only financial tool guaranteeing an income stream you cannot outlive.
- Tax-deferred savings – interest earned is tax-deferred until received.
- Death proceeds are paid directly to your named beneficiary – privately and outside probate.
For more information about our retirement pension plans and annuity programs or to schedule a free consultation, call us today at 801-628-1861.