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Retirement Plans

Saratoga National offers retirement plans for individuals and businesses.

Corporate and Non-Corporate Retirement Plans
These plans are designed to meet a company’s specific needs, whether it is to attract and retain valuable employees, maximize income tax benefits, or to increase productivity.

  • Profit-Sharing Plans: Contributions to the plan are determined from year to year based on the company’s financial results and benefits are generally paid at retirement in the form of lump-sum distributions.

  • 401(k) Plans: A 401(k) plan allows employees to defer a portion of their salaries on a pre-tax basis. Employers can encourage greater employee participation by offering a company match of employee salary deferral up to certain limits.

  • Employee Stock Ownership Plans: Employers can contribute company stock as the retirement plan for employees. Giving employees part ownership in the company in this way encourages them to increase productivity and profits and builds employee loyalty.

  • Traditional Pension Plans: These plans include Defined Benefit Plans, where benefits are usually determined by a combination of age and compensation, and Money Purchase Pension Plans, where employer contributions are a specific percentage of eligible participants’ compensation.

Personal Retirement Plans
Today, more of the planning and saving for retirement is falling on individuals instead of employers. Effective management of these retirement assets is essential in order to achieve retirement goals.

  • Individual Retirement Accounts: IRAs offer a tax-deferred way to save for retirement. Whether it is a Traditional, Roth, Educational or Floating IRA, Saratoga National Bank & Trust Company can help you determine which one is right for you.

  • Keogh Plans: These plans are established by individuals who are self-employed, own all or part of an unincorporated business or have some side income from self-employment. They offer many of the same features as IRAs.