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For Employers  
  An employer-sponsored retirement plan is a tax-deferred retirement account that allows small businesses to make tax-deductible contributions to employees’ retirement savings. The different types of plans include:   white space Man fishing
 
   
  • With a Simplified Employee Pension Plan (SEP-IRA), all employee contributions are immediately 100% vested. Company contributions may not exceed 25% of employees' earnings or $44,000 for 2006 and $45,000 for 2007.
  • A Savings Incentive Match Plan for Employees (SIMPLE) is intended for a company with 100 or fewer employees. Employees may contribute up to $10,000 for 2006 and $10,500 for 2007 pre-tax. Employers must either match employee salary deferrals (up to 3% of pay) or contribute 2% on behalf of all eligible employees.
  • The 403(b) plan helps employees of school systems and nonprofit organizations save for retirement. Employees can make salary deferral contributions, which can be either pre-tax contributions or Roth contributions.
  • Other employer-sponsored retirement plan types
    • 401(k)
    • Profit-sharing
    • Money purchase pension
    • Defined benefit pension

An employer-sponsored retirement plan can be an effective benefit for attracting—and keeping—the kind of employees you want to work with. It also generally allows a deduction for employer contributions.

An additional benefit is that setting up a retirement plan can provide you, the employer, with a tax-advantaged method for saving toward your own retirement.

Contact your Thrivent Financial representative today to learn more about employer-sponsored retirement plans.

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Appleton Office:
4321 N. Ballard Road
Appleton, WI 54919-0001 USA
800-THRIVENT
(800-847-4836)
E-mail: mail@thrivent.com

Minneapolis Office:
625 Fourth Avenue S.
Minneapolis, MN 55415-1624 USA
800-THRIVENT
(800-847-4836)
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Thrivent Financial for Lutherans, its affiliates, Financial Representatives and employees do not provide legal, accounting, or tax advice or services. This summary information is provided for your education, and to help you start preparing for retirement. It is not intended to be tax or legal advice. We strongly advise that you consult your legal and/or tax advisor before making any tax-related financial decisions.

Thrivent Financial for Lutherans, Appleton, WI 54919-0001, is authorized to conduct business in all 50 states and the District of Columbia. NAIC # 2938-56014. Products issued by Thrivent Financial for Lutherans are available to applicants who meet membership, insurability, U.S. citizenship and residency requirements. Not all products described are available in all states. Thrivent Financial representatives are licensed insurance agents. Insurance and retirement products, where available, are individual contracts, (not group coverage), and issued by Thrivent Financial for Lutherans. Investment products are offered through Thrivent Investment Management Inc., 625 Fourth Ave. S., Minneapolis, MN 55415-1665, a wholly owned subsidiary of Thrivent Financial for Lutherans. Member FINRA. Member SIPC. Thrivent Financial representatives are registered representatives of Thrivent Investment Management Inc.

Bank products and trust services are offered through Thrivent Financial Bank, 2000 E. Milestone Dr., Appleton, WI 54919-0006 (Member FDIC, Equal Housing Lender), a wholly owned subsidiary of Thrivent Financial for Lutherans. Insurance, investment products, securities, trust, and investment management services and accounts are not deposits, are not FDIC insured, are not insured by any federal government agency, and are not guaranteed by Thrivent Financial Bank. Variable insurance contracts, investment products, trust, and investment management accounts may go down in value.
©1995-2008 Thrivent Financial for Lutherans

This document was last updated on Thursday, May 17, 2007 at 12:15 PM