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| Financial Services Whether your financial future includes paying college tuition, purchasing a new home or retiring with security, we look forward to helping you reach your goals. A couple of products available for this purpose are annuities and Section 125 plan. Annuity: This is a contract with an insurance company that you agree to deposit a specific amount of money with that insurance company. The insurance company agrees to pay a fixed rate of interest on your funds, as long as the contract exists. The interest you earn accumulates as tax deferred. Withdrawals are taxable and if you withdraw from the account prior to age 59 1/2 a tax penalty may apply and there are federal restrictions. Section 125: The main function of Section 125 is to set up and maintain cafeteria plans. A cafeteria plan is a way of providing an employee with valuable benefits and significant tax savings. Benefits under a cafeteria plan may include reimbursements of dependent care expenses and medical expenses not covered by insurance. The plan may also provide the ability to pay for insurance premiums with pre-tax dollars. If you’re interested in Section 125, please contact us either by phone, fax or e-mail.
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