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Employer-Sponsored Retirement Plans

ADDITIONAL INFORMATION

	Description	Details
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
Defined-Benefit Plans	These plans promise employees a fixed retirement benefit based on age, salary and service. The trust's investments are pooled and chosen by the Trustee.	Generally, only funded through employer contributions, but sometimes employees also contribute on a voluntary or required basis More strict about how and when an employee receives his or her benefit — generally only upon retirement age
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

The products offered, unless otherwise indicated:

are not FDIC insured
are not a deposit or other obligation of the depository institution
are not guaranteed by the depository institution
are subject to investment risks, including the possible loss of the principal amount invested