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As a business owner, you should carefully consider the advantages of establishing an employer-sponsored retirement plan. Generally, you're allowed a deduction for contributions you make to an employer-sponsored retirement plan. A retirement plan can provide you with a tax-advantaged method to save funds for your own retirement, while providing your employees with a powerful and appreciated benefit. No matter if you have 100 employees or work as a sole-proprietor, you can take advantage of a retirement plan.

Our advisors work closely with you on plan design, investment management and plan maintenance, and act as a direct pipeline to participants to answer one-on-one questions they have. The network of professionals who we work with can help make the employer retirement plan efficient and beneficial to the business and to the ownership, while meeting compliance and legal requirements.

There are several types of retirement plans to choose from, and each type of plan has advantages and disadvantages. You should also know that the law may permit you to have more than one retirement plan, and with sophisticated planning, a combination of plans might best suit the needs of the business and the ownership. We work with many different types of employer retirement plans, including:

  • 401(k)
  • Profit Sharing
  • Solo 401(k)
  • Safe Harbor 401(k)
  • Defined Benefit

This is not an exhaustive list, but represents the most popular plans in use today. Current tax laws give retirement plan professionals new and creative ways to write plan formulas and combine different types of plans, in order to maximize contributions and benefits for owners and highly-compensated employees. Retirement plans can be complex, and ensuring that all requirements are met to comply with laws can be time-consuming. Our experienced advisors work diligently to help you ensure your retirement plan is efficient, suitable and compliant.

We would welcome the opportunity to review your current retirement plan or to talk with you about the advantages that a plan offers your business. Please contact us to schedule a time to meet.

The LPL Financial registered representative(s) associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.

Your Bank (“Financial Institution”) provides referrals to financial professionals of LPL Financial LLC (“LPL”) pursuant to an agreement that allows LPL to pay the Financial Institution for these referrals. This creates an incentive for the Financial Institution to make these referrals, resulting in a conflict of interest. The Financial Institution is not a current client of LPL for brokerage or advisory services. Please visit

Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker/dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Itasca Bank & Trust Co. is not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using LPL Financial located at Itasca Bank & Trust Co., and may also be employees of Itasca Bank & Trust Co. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of Itasca Bank & Trust Co. Securities and insurance offered through LPL or its affiliates are:

Not insured by FDIC or Any Other Government Agency Not Bank Guaranteed Not Bank Deposits or Obligations May Lose Value

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