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Small Business Retirement Plans in Sumner IA & Waverly IA

Offering a retirement plan for your employees could be one of the best things you'll do for your small business. The benefits aren't just in the future, either—as pointed out by the Department of Labor, starting a retirement plan offers immediate tax benefits in the form of deductibles, deferred taxation, and tax-free growth. Small employers can also usually take advantage of available tax credits that help offset the creation and administration of their plan, making it both easy and affordable to get started.

Types of Small Business Retirement Plans

If you're going to start offering small business retirement plans, you need to decide what type of plan(s) are actually going to be offered. There are a few different choices, each with their own advantages for different types of business owners.

401(k) Plans

A 401(k) plan—named after its designation by the IRS—is a special type of retirement account that allows employees to contribute some of their earnings into a savings plan. The three main forms of 401(k) plans available are Safe Harbor, Automatic Enrollment, and Traditional, all of which have important differences for small businesses. We encourage talking to a certified financial professional prior to selecting a plan in order to ensure that it's right for your company's needs, both now and in the future.

*Federal income tax laws are complex and subject to change. Neither Nationwide nor its representatives give legal or tax advice. Please consult your attorney or tax advisor for answers to specific questions. 

Profit Sharing Plans

If your company's income is variable, you can opt for what's known as a "profit sharing plan." These plans accept contributions at the discretion of employers, and typically do not require a certain amount of contributions each year. This is especially useful for startups, who may not have funds to spare as they work to establish themselves and deal with the challenges of creating a new business.

While all plans are required to file a Form 5500 each year to report their performance, the plans are accepted for businesses of any size and can even be used by companies that have other retirement plans in place. A Wegner Insurance Agency Inc. agents would be happy to discuss these and other options with you.

Guarantees and protections are subject to the claims paying ability of the issuing insurance company.

1. "Choosing a Retirement Solution for Your Small Business." Accessed April 12, 2016. http://www.dol.gov/ebsa/publications/choosing.html.

2. "Form 5500 Corner." Accessed April 12, 2016. https://www.irs.gov/Retirement-Plans/Form-5500-Corner.

Our Location

Wegner Insurance Agency

103 West First St
Sumner, IA 50674
Main office: 563-578-8076
Fax: 563-578-5425

Office Hours:

Mon: 8:00 AM - 4:30 PM
Tues: 8:00 AM - 4:30 PM
Wed: 8:00 AM - 4:30 PM
Thurs: 8:00 AM - 4:30 PM
Fri: 8:00 AM - 4:30 PM
Sat: Closed
Sun: Closed

Our Providers

Testimonials

Wegner Insurance has helped protect many parts of our lives over the past 7 years, from when we started out as a newly married couple in a rental apartment, to later insuring our purchased home, our cars and our home-based and later off-site business. We love that they are Dave Ramsey endorsers and that is originally how we found them. Doyle takes time to come to our home when needed, and Carolyn and Karla are phenomenal with putting up with my multitude of questions every time our policy changes because we have added something, sold a vehicle, or just have questions in general. They take time to know about our family and truly care about us as clients. We highly recommend them to anyone looking for small-town business with any kind of coverage!
- Brittany Todd
Friendly and helpful staff who are always patient with all my questions. Excellent customer service!
- Tessa Willie
Wegner insurance is always top notch! Have a question or problem, just call! They will always help! Even Doyle came to my house on a Saturday, to discuss my farm and vehicle coverage, so I didn't have to take a day off work to go to their office! Glad I made the call to them when I was looking for coverage! Awesome people!
- Dale Degner