Give us a call
316.686.6666

Small Business Retirement Plans in Derby, Wichita and Andover, KS

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.

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 IPK Insurance 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 Locations

IPK Insurance

707 N Waco Ave, Ste 101
Wichita, KS 67203
Main office: 316-686-6666
Fax: 316-425-0025

IPK Insurance (Habla Espanol)

1351 N Waco Ave
Wichita, KS 62703
Main office: 316-686-6666
Fax: 316-425-0025

Our Providers

Testimonials

Great customer Service.

Wanda S.
Quick response by Lisa, excellent follow through, excellent rates.

Robert I.
You got me the best rate out there and fast phone service.

Steven C.
Very kind and very helpful! Maria did everything she could to get me the best possible price! I have recommended IPK to all of my friends!

Mariah S.
I love the service and quality I get from IPK!

Nicholas S.
You always take care of my issues on a prompt and professional manner thank you very much

Roper I.