Do you have any employees other than your spouse or business partner?
IRA-based plans for small businesses
Getting the retirement you want could be easier than you think.
An IRA can be a great way to plan for the future. Whether you're looking to supplement another retirement plan or want to start investing for retirement, COUNTRY Trust Bank® is here to help you understand your options and make smart decisions.
Find the Right Plan
Answer a few questions to find a plan that fits your business and choose a design that meets your specific needs.
Choosing an IRA
“Goodbye tension, hello pension."
That certainly captures the feeling of freedom that comes with the idea of what retirement may be like. There's only one problem. Defined benefit pension plans – those are the ones that guarantee a monthly benefit at retirement, mostly all on the employer’s dime – are going the way of the dinosaur. In fact, only 18% of Americans employed in private industry were covered by a pension plan in 2011.
So what’s a hard-working person supposed to do?
Certainly, you should participate in your workplace 401(k) if you have one. But there are additional ways to prepare for retirement, and a favorite is the tax-advantaged Individual Retirement Account, commonly known as an IRA. Even if you participate in a retirement plan at work, you can probably start an IRA, and you might be able to contribute to an IRA for a non-working spouse, too.