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 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 must be included in […]
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 […]