Employee Benefits:
Business Retirement Plan Services
Help Employees Build Their Future – Help Your Business Grow
A strong retirement plan can help strengthen your benefits package, improve retention, support recruitment efforts, and demonstrate your commitment to your workforce.
At Peoples Bank, our Trust & Wealth Management team works with businesses of all sizes to design and implement retirement plans with confidence. Whether you’re establishing your first retirement program or evaluating your current plan, we can help you identify solutions that fit your business and budget.
Our local experts offer fully-bundled and in-house solutions that eliminate the need for multiple providers.
Business Retirement Plan Solutions
401(k) Plans
A 401(k) plan remains one of the most popular retirement benefits businesses can offer. This includes automatic payroll withholdings, matching capabilities, and more.
401(k) plans can help businesses:
- Attract and retain top talent
- Support employee financial wellness
- Offer tax-advantaged retirement savings opportunities
- Build a competitive employee benefits package
SIMPLE IRA Plans
A Savings Incentive Match Plan for Employees (SIMPLE IRA) is a start-up retirement savings plan for small businesses without an existing retirement plan. SIMPLE IRAs allow employers and employees to make tax-deferred contributions to traditional IRAs.
Benefits may include:
- Easy administration
- Lower startup costs
- Employee salary deferral opportunities
- Employer matching contributions
SEP IRA Plans
Simplified Employee Pension (SEP IRA) plans can provide flexibility for small businesses and self-employed individuals who want to contribute toward retirement while maintaining administrative simplicity.
SEP IRAs may be a good fit for:
- Small business owners
- Family-owned businesses
- Freelancers
Profit-Sharing Plans
Profit-sharing plans allow employers to make discretionary contributions based on business performance, creating a valuable incentive that aligns employee success with organizational growth.
Advantages may include:
- Flexible annual contributions
- Increased employee engagement
- Tax-advantaged savings opportunities
- Enhanced employee retention strategies
Why Businesses Offer Retirement Plans
Employee Retention
Employees who feel supported in their long-term financial goals are often more likely to stay with their employer
Recruiting Efforts
A well-structured retirement plan can help your business attract qualified talent and remain competitive
Tax Advantages
Many employer-sponsored retirement plans offer tax benefits for both businesses and employees
Employee Financial Wellness
Providing access to retirement savings opportunities can help employees establish healthy financial habits
Retirement Plan Guidance You Can Trust
Our commitment doesn’t end after your plan is established. We provide ongoing support to help both employers and employees get the most value from their retirement plan.
Our retirement plan services include:
- Assistance selecting the right retirement plan
- Dedicated Retirement Plan specialists who provide ongoing guidance
- Regular on-site employee education meetings and enrollment support
- Quarterly plan participant statements with access to Personal Financial Planners
- Plan reviews and continued consultation as your business evolves
More Than Retirement Plans
Business retirement plans are often just one piece of a broader financial strategy.
Treasury
Management
Improve cash flow, streamline payments, and gain greater control over your business finances with treasury management services from Peoples Bank.
Industry
Solutions
From healthcare and professional services to nonprofit organizations and property management, we deliver tailored business banking packages for your industry.
Trust & Wealth Management
From investment management and financial planning to trust and estate services, our advisors can help you build a strategy for your personal future.
Peoples Premium Finance
Improve cash flow and preserve working capital with flexible insurance premium financing solutions for businesses and insurance professionals.
Build a Retirement Plan for Your Business & Employees
Fill out the form below to connect with our team and learn more about personalized business retirement plans designed around your goals.
INVESTMENT PRODUCTS ARE NOT INSURED BY THE FDIC. NOT DEPOSITS OR OTHER OBLIGATIONS OF THE BANK AND ARE NOT GUARANTEED BY THE BANK; SUBJECT TO INVESTMENT RISKS, INCLUDING POSSIBLE LOSS.