You built your own career. Now it’s time to build your retirement plan. We can help.
The buck stops with you, so it’s your responsibility to plan and fund your retirement. But you have options, including two IRAs that enable you to provide retirement funds for your employees as well.
Your annual contribution can be up to 25% of your eligible compensation or maximum set by the IRS (whichever amount is less). Contributions are 100% tax deductible and earnings grow tax deferred. If you use a percentage of your compensation to calculate your retirement contribution, you must make contributions for your employees at the same percentage.
This tax-deferred retirement plan is an option for small business owners with fewer than 100 employees. You can contribute annually with a catch-up for those 50 or older. Employers must match up to 3% of an employee’s contributions on a dollar-for-dollar basis.
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First Hawaiian Bank’s Wealth Management Group provides investment advice and financial products and services through First Hawaiian Bank. First Hawaiian Bank does not provide tax or legal advice.
|Investments, annuity, and insurance products are:
NOT INSURED BY FDIC OR ANY GOVERNMENT AGENCY • MAY LOSE VALUE • NOT A DEPOSIT • NOT GUARANTEED BY FIRST HAWAIIAN BANK