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There is much to enjoy about managing a successful business. You'll enjoy the satisfaction of a job well done and customers well served. And hopefully you'll also relish a comfortable income for you and your family.
But there is even more. Your business also can provide you and your employees with a retirement income.
It's all possible for you and your business through a qualified retirement plan.
Why you need a retirement plan
Employers and employees definitely can agree on at least one point--a strong, secure retirement plan is a must in today's society.
As the business owner, a well-designed retirement plan can help reward you with a comfortable lifestyle at retirement and lifetime protection—all at an affordable cost.
And a good retirement plan can help you attract and keep quality employees. You will enlist partners in your drive for business success.
How qualified retirement plans help you and your employees
As a business owner, you and your employees can join in a qualified retirement plan. Your qualifying contributions to the plan are tax-deductible as a valid business expense.
Although there are some contribution limitations and eligibility requirements, money your business contributes to the plan is not taxed as income to plan participants (either to you or your employees) during the year in which the contribution was made.
Plan earnings accumulate tax-deferred until distribution, and the interest compounding accelerates the plan's growth. Money becomes taxable only when it's withdrawn, usually when the employee is retired.
Contact your financial representative with Thrivent Financial for Lutherans today to discover how Thrivent Financial for Lutherans can help you make the best possible retirement plan for you and your employees!
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