Corporate Retirement Plans

Retirement plans offer many attractive benefits to employers by helping to retain experienced employees, attract qualified employees, and provide tax benefits through the deductibility of employer contributions. Whatever the size of your company, we can create a retirement plan having the features, benefits, and flexibility best suited to your business. We can provide professional management and advice to ensure that the plan's assets are invested prudently and administered affordably, offering your employees comprehensive services they won't find at other providers.

Listed below are some of the plan types we service:

  • 401(k) Profit Sharing Plan
  • Safe-Harbor 401(k) / Profit Sharing Plan
  • Profit Sharing Plan
  • New Comparability Profit Sharing Plan
  • Age-Weighted Profit Sharing Plan
  • Money Purchase Plan
  • New Comparability Money Purchase Plan
  • 403(b) Tax-Deferred Annuity Plan
  • 457 Plan
  • Defined Benefit Plan
  • Non-Qualified Deferred Compensation Plan

At Commonwealth, we believe in providing the highest level of service and availability including toll-free automated account services, web services designed to give you access to your retirement account information 24 hours a day, and quarterly statements & newsletters.

Individual Retirement Plans

Today, more than ever before, one of the greatest challenges facing American workers is assuring their financial security in retirement. With rising uncertainty over Social Security's ability to meet the needs of future retirees, Americans now and in the future will need to take the lead in building their retirement nest egg. More people than ever are now eligible to take advantage of the incredible tax savings available through IRAs. There are a variety of IRA types available to best meet your individual needs including Traditional IRAs, Roth IRAs, SEP IRAs and Simple IRAs. Described below are the benefits offered by two of these types.

Traditional IRAs offer:

  • Independence. Unlike participation in an employer sponsored retirement plan, you may fund your IRA at any time without any employer participation.
  • Immediate tax benefits. Contributions may be tax deductible and earnings are tax-deferred until withdrawal.
  • Accessibility. Your funds are always available to you, something not generally true of employer plans
  • Flexibility. You may contribute as little or as much as you like each year, as allowed by law.

Roth IRAs offer:

  • The ability to invest your after-tax dollars today, let the investment grow tax-deferred, and withdraw your principal and earnings tax-free after five years and age 59.
  • Tax-free withdrawals may be allowed if you become disabled or are a first time home buyer.
  • Roth IRA contributions are nondeductible and taxed in the year they are earned. Those who expect to be in a higher tax bracket when they retire may benefit greatly from a Roth IRA.
  • Minimum distributions are not required at age 70.
  • Contributions may continue to be made after age 70.

Accounts can be established through either the rollover of a distribution from a qualified retirement plan, such as a pension, profit sharing plan or 401(k) or through Annual contributions from earned income in amounts that are within prescribed limits. Contributions may or may not be tax deductible depending on your specific situation and the type of IRA to which you contribute.

Our investment staff will work with you to develop your individual financial goals now, so you can look forward to a brighter, more secure future. Whether you are opening your first retirement account, making an annual contribution, transferring or converting an existing account or rolling over an employer-sponsored retirement plan, we have a number of solutions to meet your particular retirement situation.