The topic of this article is whether or not Roth IRA contributions can be offered as a benefit to your employees. This topic is especially pertinent today, as more and more people are exploring different options of saving for their retirement. Social Security is not a sure thing, and even if it were, the money that it gives you is not nearly enough to live on in any sort of humane way. More and more options for saving for your retirement are available, and sometimes it can be incredibly confusing to both employees and employers.
First let's go over what exactly a Roth IRA is. For a long time, lots of people have counted on traditional IRAs to help them plan and save for their retirement. But Roth IRAs actually might be a better way to go. This is why. A Roth IRA lets you possibly receive tax-free distributions of your retirement funds if you choose to make your contributions now nondeductible.
Contributions will be nondeductible no matter what your income level is, or whether or not you participate in a retirement plan that is sponsored by your company.Continue reading "can Roth IRA contributions be offered as a benefit?"