Profit Sharing Plans for Retirement
Funds contributed by an employer to a profit sharing plan are discretionary, and go into a separate account for each employee according to the terms of the plan you design. Profit sharing plans have a lot of flexibility in their design, and prototype plans are available to reduce the planning and administrative burden on you.
When a profit sharing plan includes a 401(k) feature, employees may allocate a portion of their salary to their account. Our investment professionals will help you craft a profit sharing plan that benefits both your business and your employees.
- Flexible design
- No set annual contribution amount, if you choose
- Option to include a 401(k) feature so employees can also contribute to their accounts
- Contributions are not required every year
- Strong employee incentive
- Not a Deposit
- Not Guaranteed by the Bank or its Affiliates
- Not FDIC Insured
- Not Insured by Any Federal Government Agency
- May Go Down in Value
Investments available through First Tennessee Brokerage, Inc., member FINRA, SIPC, and a subsidiary of First Tennessee Bank National Association.
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First Tennessee does not offer tax or legal advice. You should consult your tax and/or legal advisor regarding your individual situation.