Whether you are an individual or a business owner, the Stifel Nicolaus Retirement Plan Services Department can assist you with establishing the right plan to help you save for your retirement years. It's never too late to put a plan of action into place in order to prepare for the years when you will no longer be receiving a steady paycheck. Most people rely on three main sources of income upon retirement:
1. Social Security
2. Employer-sponsored retirement plans
3. Personal savings.
| For Individuals |
The first step in personal savings for retirement is an Individual Retirement Account (IRA). There are several different types of IRAs, each having various tax ramifications upon deposit and then upon withdrawal. Each type of IRA account, though, enjoys the benefits of tax-deferred growth and compounding. Stifel Nicolaus Retirement Plan Services Department can assist with:
- What type of IRA should be established?
- When are contributions tax deductible and when are distributions tax-free?
- How much can be contributed?
- When can distributions be taken?
- How should the assets be invested?
These are important questions that your Stifel Nicolaus Financial Advisor can help you to understand.
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| For Business Owners |
In addition to helping you and your employees save for retirement, offering a company-sponsored retirement plan provides other benefits, such as in recruiting and retaining valuable employees, increasing employee productivity, and a tax-deduction for company contributions. There are various types of plans and the Retirement Plan Services Department can help you to decide if a 401(k), profit sharing, pension, SEP or SIMPLE plan is right for your business. Stifel Nicolaus does not offer just one proprietary plan. Numerous plan alternatives and funding vehicles are made available. Part of our mission is to be sure that the most appropriate plan and investments are offered to your employees. To do this, services include:
- Consulting - The Stifel Retirement Plan Services Department will ask numerous questions to help determine the most important factors regarding plan design and what circumstances might be unique to each business. Each plan is structured based upon the business owner's concerns and the makeup of employees, always keeping in mind the goals of the business owner.
- Product Selection - Stifel has relationships with dozens of mutual fund and insurance companies, each offering different plans to fit various needs. Stifel will help to match the most appropriate vendor to each client. Factors that may influence the recommendations include, the vendors' expertise in a particular area, fees, performance, and features offered.
- Implementation - After deciding on a particular plan, Stifel will assist with procedures and the necessary paperwork to establish the plan.
- Employee Education/Communication - Part of establishing the plan is announcing it and explaining the new plan to employees. It is during this phase that the employee communication/education process begins. This is not a one-time effort, rather a process that continues through the life of the plan. Regular investment updates and educational seminars are available and can be tailored for each company's preference. It's imperative for the success of the plan that the employees understand how the plan works and the investments available to them.
- Performance Monitoring - On an ongoing basis, your Stifel Financial Advisor will monitor the investment offerings and the performance of each. Doing this regularly will help to determine if any investment changes should be made and if the plan is meeting your expectations.
- Distribution Consulting - After an employee has participated in a company sponsored plan and built an investment account, Stifel will provide support in the way of distribution counseling. At retirement or termination of employment, an individual has numerous choices on how and when to distribute their assets. These important decisions can only be made when an employee understands all of their options.
Every individual should be concerned with planning for comfortable retirement years. Stifel's Retirement Plan Services Department can help.
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Qualified Plans Contact
Mary Claire Voss
(314) 342-2742
(314) 342-7399 - Fax
vossm@stifel.com
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