The following outlines some common benefit plans that can effectively attract and retain an experienced workforce and my provide additional important benefits to your company's bottom line as well.*

Qualified Retirement Plans

 All retirement plans are not the same. DSA works with you to plan the most advantageous plan for your unique needs. Taken into consideration are cost versus benefit, tax implications, and the amount of money you plan to save per annum. Identifying the right plan for your situation is the most important step in meeting the needs of your employees as well as your own. Here’s a brief look at the different plans and what each has to offer.

Pension

• A defined benefit plan is a retirement plan that can offer substantial tax deductible retirement contributions and significant future retirement income to the self-employed and small business owner
• For those that qualify, may allow considerably larger contributions when compared to a 401(k) or other traditional retirement accounts
• Within IRS limits, contributions into a pension plans may be 100% tax deductible
• May be funded with insurance

Traditional 401(k)

• Funded with pre-tax dollars through payroll deductions
• You may choose to, or not to provide a company match
• Employer contributions are tax-deductible
• Contributions are capped at $16,500, $21,000 if aged 50+ (for 2011)

Safe Harbor 401(k)

• Funded with pre-tax dollars through payroll deductions
• Combines the best features of the traditional 401(k) and a SIMPLE IRA
• As a business owner, you can avoid the higher administrative expenses of a traditional 401(k)
• The business must make matching or non-elective contributions, typically up to 3% of an employee's income
• As a business owner, you may enjoy significantly higher contribution limits up to $49,500 per year, $54,500 if aged 50+ (for 2011)

Simple 401(k)

• Funded with pre-tax dollars through payroll deductions
• Designed for small business owners who don’t want to deal with retirement plan administration or non-discrimination tests
• Available to businesses with less than 100 employees
• The business must make fully vested contributions of up to 3% of an employee's income
• Employees with a SIMPLE 401(k) may not have another retirement plan with that company
• As a business owner, you may contribute up to $11,500 per year, $14,000 if aged 50+ (for 2011)

Solo 401(k)

• Combines a profit-sharing plan with a regular 401(k)
• Designed for sole proprietors, small business owners, and those who have a small, legitimate businesses on the side while working for another employer
• As a business owner, you may contribute up to $49,500 per year, $54,500 if aged 50+ (for 2011)
• However, if you add employees other than your spouse, your Solo 401(k) must be converted to a SIMPLE 401(k) or a Traditional 401(k)

SEP IRA

• Designed for businesses with 25 or fewer employees
• Employer contributions are 100% vested from the start
• Employer can supplement the SEP-IRA with another retirement plan
• Individual’s personal contribution limits up to $49,500 per year, $54,500

Additional Group Benefits

Group Health Insurance

• Plan coverage and deductables vary by carrier and your company's need

Individual Disability Income Insurance

• Provides monthly benefits to help your employees maintain their standard of living while unable to work due to illness or injury
• Premium discounts may be available for businesses with three or more employeesˡ

Supplemental Disability Income Insurance

• Provide employees the opportunity to apply for (or decline) supplemental disability income insurance
• Can be positioned on a voluntary or employer-paid basis
• Supplements existing group long-term disability income insurance (LTD) to fill the gap between the LTD plan benefit and your employee’s income
• Can help your employees meet their family’s financial obligations in the event of a disabling illness or injury
• Offering supplemental disability income insurance can help attract and retain quality employees and executives
• Size of eligible employee population may determine company eligibility for voluntary or employer-paid plans
• Standard Issue (GSI) provides eligible employees the opportunity to apply with simplified underwriting for an individual disability income (IDI) insurance policy 

* Employers should consult their own tax and legal advisors for further information on potential tax implications.

ˡ Discounts may be subject to state availability and underwriter approval.