480-696-5005

Small Business Retirement Plans in Chandler and Gilbert, AZ

Offering a retirement plan for your employees could be one of the best things you'll do for your small business. The benefits aren't just in the future, either—as pointed out by the Department of Labor, starting a retirement plan offers immediate tax benefits in the form of deductibles, deferred taxation, and tax-free growth. Small employers can also usually take advantage of available tax credits that help offset the creation and administration of their plan, making it both easy and affordable to get started.

Types of Small Business Retirement Plans

If you're going to start offering small business retirement plans, you need to decide what type of plan(s) are actually going to be offered. There are a few different choices, each with their own advantages for different types of business owners.

401(k) Plans

A 401(k) plan—named after its designation by the IRS—is a special type of retirement account that allows employees to contribute some of their earnings into a savings plan. The three main forms of 401(k) plans available are Safe Harbor, Automatic Enrollment, and Traditional, all of which have important differences for small businesses. We encourage talking to a certified financial professional prior to selecting a plan in order to ensure that it's right for your company's needs, both now and in the future.

Profit Sharing Plans

If your company's income is variable, you can opt for what's known as a "profit sharing plan." These plans accept contributions at the discretion of employers, and typically do not require a certain amount of contributions each year. This is especially useful for startups, who may not have funds to spare as they work to establish themselves and deal with the challenges of creating a new business.

While all plans are required to file a Form 5500 each year to report their performance, the plans are accepted for businesses of any size and can even be used by companies that have other retirement plans in place. A Foothills Insurance Agency agents would be happy to discuss these and other options with you.

Guarantees and protections are subject to the claims paying ability of the issuing insurance company.

1. "Choosing a Retirement Solution for Your Small Business." Accessed April 12, 2016. http://www.dol.gov/ebsa/publications/choosing.html.

2. "Form 5500 Corner." Accessed April 12, 2016. https://www.irs.gov/Retirement-Plans/Form-5500-Corner.

Foothills Insurance Agency

2490 S. Gilbert Rd, Ste 105

Chandler, AZ 85286

Main office: 480-696-5005
Fax: 480-759-1690

Office Hours:

Mon: 9:00 AM - 5:00 PM
Tues: 9:00 AM - 5:00 PM
Wed: 9:00 AM - 5:00 PM
Thurs: 9:00 AM - 5:00 PM
Fri: 9:00 AM - 3:00 PM
Sat: By Appointment
Sun: Closed

Our Providers

Testimonials

These guys are AWESOME!!! SInce I have switched my business insurance needs over to them, and I am paying less each month, and I have more coverage. It was nice that they took the time to really make sure I am covered if and when I need it. After shopping around with 4 different brokers, it wasn't a question of who I should choose, but how quickly I could switch. You would be a fool not to give them a call. Also, for business owners, they're very quick at getting my certs out to my customers, and myself.
Mike L.
I have been with Foothills Insurance Agency as a customer and Realtor for over 10 years, and have gotten great information and service all along the way. I highly recommend them, and have done so to over 20 friends, family, and clients!
Andrea J.