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A retirement plan can be tailored to meet the unique goals and objectives of your business. Good plan design can help to minimize plan costs and provide increased flexibility in the amount of the annual contribution. A variety of plan features can be used to tailor a plan to the specific needs of your company. It is important, therefore, for you to have a clear idea of what your goals and objectives are. Some important points to consider are:
- The history and culture of your business
- Your personal plans for retirement
- Any plans for future expansion or contraction of your business
- Information about employees such as ages, salaries and compensation levels
- The availability of funds to contribute to the program
- Employee Retention
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