Employer-Sponsored Retirement Plans
401(k) Plans
With these popular plans, employee contributions actually represent deferred compensation and therefore offer income-tax incentives. 401(k) plans also allow employers to make matching or profit-sharing contributions on their employees' behalf — and receive a corporate tax deduction.
- Investment may be Trustee or Participant directed
- Flexible withdrawals may be designed into the plan document
Profit-Sharing plans
With these plans, employers may share profits with employees by funding the retirement plan in full according to a set formula or discretionary amount. However, contributions are not required every year — this is strictly at the employer's discretion. Employer contributions receive a corporate tax deduction.
- Employees are not allowed to make contributions
- Investment may be Trustee or Participant directed
- Flexible withdrawals may be designed into the plan document
Cash-balance plans
These plans are fundamentally the same as defined-benefit plans, but with the advantages of a profit-sharing plan. The key difference is that cash-balance plans provide benefits in the form of a determinable account balance rather than an ending retirement benefit.
- Withdrawals are more flexible than with defined-benefit plans
- Advantageous to small or privately owned businesses and those who wish to receive larger retirement contributions
Money-purchase plans
These plans are similar to profit-sharing plans, except that the annual employer contribution amount is defined by the plan document and is not discretionary. Employer contributions receive a corporate tax deduction.
- Investment may be Trustee or Participant directed
- Flexible withdrawals may be designed into the plan document
- May be combined with other retirement plans
Securities offered through Raymond James Financial Services, Inc., Member FINRA/SIPC, an independent broker/dealer, and are:
- Not deposits
- Not insured by FDIC or any other government agency
- Not guaranteed by the financial institution
- Subject to risk, may lose value
- Unless otherwise indicated, investment products offered through Amarillo National Bank are subject to risks.
- IRA's are insured by FDIC, if invested in the form of a CD in an FDIC member bank.
Amarillo National Bank and Raymond James Financial Services are independent entities.
Raymond James financial advisor may only conduct business with residents of the states and/or jurisdictions for which they are properly registered. Therefore, a response to a request for information may be delayed. Please note that not all of the investments and services mentioned are available in every state. Investors outside of the United States are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this site. Contact your local Raymond James office for information and availability.
