Retirement Planning: Avoid Superannuation By Investing In an Annuity
Many of our seniors dread ‘superannuation’: They fear that they might outlive their retirement savings. What will they do if their savings get used up? What will they then do to supplement their limited social security and pension benefits? What will be left for a spouse or the children and grandchildren? The inability to properly […]
IRA’S and ROTH IRA’S
The Providence Association offers two forms of Individual Retirement Accounts to the public: IRA’S an ROTH IRA’S. In each instance an annuity is used as the funding vehicle. Currently Providence pays interest at the rate of 3.25% annually. This rate will always compare favorably with standard CD’s; however, a minimum rate of 3% is guaranteed […]
What is a SIMPLE IRA plan?
SIMPLE IRA Plan – Simple is an acronym for Savings and Incentive Matched Plan for Employees. Generally, any business with 100 or fewer employees can qualify; however, SIMPLE plans are only available to companies that maintain no other employer-sponsored retirement plan to which contributions are made or accrued during the pertinent calendar year. Which employees […]
What is a SEP Plan?
A SEP is a cost effective means for an employer to provide a heavily funded retirement plan for himself and for his valued employees. It is characterized by an extremely desirable contribution “limit”. An employer can contribute the lesser of 25% of compensation or $54,000.00 (in 2017) to an IRA established for each qualified employee. These […]