401(k). Give your employees both a tax benefit and control over how they invest their retirement funds.
Give your employees a tax benefit
Traditionally designed for a larger business with more complex needs, the 401(k) plan can also make sense for a sole proprietor or one-person business (the Individual 401(k)). If you are looking for a retirement plan that allows you and your eligible employees to defer income, as well as the flexibility to make employer contributions, the 401(k) plan may be suitable for your business.
401(k) Plan benefits include
- Employee contributions up to $15,500 for 2007 & 2008, plus additional catch up contributions for employees age 50 and over
- The flexibility to vary both the employee and the employer contribution amount
- Reduced current income taxes for employees who participate via pre-tax salary deferrals
With a 401(k) plan you get to
- Allow eligible employees to participate
- Enjoy increased flexibility in choosing plan design features
- Establish vesting requirements to reward long-term employees
Apply now
- To open an account or to get more information about retirement plans, please call us 1.800.774.4724. The group's hours of operation are Monday-Friday 8:00 am - 12:00 am and Saturday 8:00 am - 6:30 pm.
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Banc of America Online Investing, Powered by Merrill Lynch is the brand name for an online investing business offered through Merrill Lynch, Pierce, Fenner & Smith Incorporated. Merrill Lynch Wealth Management is the marketing name for the brokerage services offered by Merrill Lynch, Pierce, Fenner & Smith Incorporated.
Investment products are provided by Merrill Lynch, Pierce, Fenner & Smith Incorporated and:
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• Are Not FDIC Insured
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• May Lose Value
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• Are Not Bank Guaranteed
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Merrill Lynch, Pierce, Fenner & Smith Incorporated
is a registered broker-dealer, member NASD and SIPC, and a wholly-owned subsidiary of Bank of America Corporation.
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Merrill Lynch, Pierce, Fenner & Smith Incorporated is not a tax adviser. We suggest you consult your personal tax adviser before making tax-related investment decisions.
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