Sections 401 through 408 of the Internal Revenue Code promulgates the Federal law in regards to retirement plans. These plans are offered as a benefit to employees for the purpose of retention and long term benefits for qualified employees. In business, the second purpose of existence is to maintain employment and create a bond between employer and employee. Retirement plans are an essential tenant of this bond.
For the longest time the retirement benefit was the most important employee benefit to offer. Today it is number two behind health insurance which is mandated by law. Still, it is a sought after benefit […]