Along with the different types of retirement plans come variables within each company’s own retirement plan. The following are different features that can be included to help your retirement plan work for you.

Hardship- The hardship provision allows the participant to withdrawal their money during certain times of need.

In Service- The in service distribution provision allows the participant to withdrawal their money before actually terminating service with the employer.

Loans- Loans give a participant the chance to borrow money from their individual account penalty free. This money is then paid back to the account with interest.

Allocation Methods- Profit Sharing Plans and the profit sharing portion of a 401(k) plan have different allocation methods. Let Crest Retirement help you in choosing the formula that maximizes your contributions. Eligibility - Different eligibility provisions give you the opportunity to limit who and when a participant can enter the retirement plan. You can base them on age, service and certain types of employees.

Roth- Roth provisions allow the individual to pay the taxes on their retirement account up front and thereby relieve the participant of future tax obligations.

Designing a retirement plan for your company will not only better prepare you for the future, but also create a business that is attractive and competitive within the current employee marketplace.

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