Employee Benefits
Simple IRA
A type of tax-deferred retirement plan for small nonprofits with fewer than 100 employees
- Pre-tax contribution
- Tax Deferred
- Contribution limit in 2023 is $15,500
- Employer’s contribution is mandatory at 3% of employee’s compensation, or, nonelective contributions equal to 2% of the employee’s compensation
- Employer, easy to set-up and operating costs lower than setting up a 401k
- Employers get a tax deduction for their contributions to employees
- Employees don’t have to sign up for salary deferrals to receive the employer’s contribution
- Requirements – employee needs to have received $5,000 in the previous 2 years
- Employer’s contribution vests immediately employee has 100% ownership
- There is no Roth with a Simple IRA
- Penalty for early withdrawal
A straightforward and cost-effective retirement plan, ideal for nonprofits seeking an easy setup and maintenance.
SEP IRA
SEP-IRA’s have higher annual contribution limiots than standard IRAs.
- For 2023 tx year, you may contribute the lesser of 25%of compensation or $66,000.
- If you are self employed contributions ae generally limied t 20% of your net earnings
- For each year that you make a contributions to you SEP-IRA you must make
cotributions for any of your eligible employees. - You do not have to contribute to your SEP every year
- Money grows tax deferred
- Money taxed at the time it comes out
- Offered to state and local government employees
- Highly compensated employees
- Some 501c3 employees
- Contributions are the pre-tax basis
- Tax-deferred growth until funds are withdrawn
- Participants are eligible to contribute 100% of their salary
- There is no 10% penalty in the event the employee retires before 59 ½
- Pre-tax contribution limits $20,500
- Catch-up provision $6,500for those age 50 and older
- Employer may contribute to plan
- Participants must wait until 59 ½ before withdrawing funds or paying an early withdrawal penalty
- Money grows tax-deferred
- Money taxed at the time of withdrawal
Simplified Employee Pension plans offer flexibility and tax advantages, providing substantial benefits for both your nonprofit and your employees.
403(b) Plans
403(b) plans are employer-sponsored plans through payroll deduction similar to a
401(K)- Pre-tax contribution limits $20,500
- Catch-up provision $6,500 for those age 50 and older
- Employer may contribute to plan
- Participants must wait until age 59 1/2 before withdrawing funds or paying
an early withdrawal penalty - Money grows tax-deferred
- Money taxed at the time of withdrawal
Tailored for nonprofits, these plans enable your team to save for retirement through pre-tax contributions, fostering long-term financial stability.
Health & Wellness Plans
Prioritize your employees' well-being with our Health &; Wellness solutions. A healthier team translates to enhanced productivity and a thriving nonprofit.
Long Term Care
Help your employees understand and own important insurance protection to help address the consequences of extended care.
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Employee Financial Wellness Guide
Access our exclusive "Employee Financial Wellness Guide" - a comprehensive resource to help your nonprofit's staff understand and navigate retirement plans, health benefits, and more.
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How do we help your nonprofit with Employee Benefits?
I wish I would have found NPPSS years ago.
Saved us so much time!
The level of professionalism stood out
+1 Saving time, +1 Saving even more money
Our nonprofit can offer so much more to our employees
With their expert guidance and strategic insights, our nonprofit organization experienced unprecedented growth and impact, thanks to our partnership with an exceptional nonprofit consultant.
Frequently asked questions
Get clear and concise answers to common questions about nonprofits. Learn about our valuable insights and address uncertainties that you might have about our services and their benefits.
Contact usWe work with a diverse range of nonprofit organizations, including those focused on education, healthcare, environment, and more. Our strategies are adaptable to various sectors and missions.
We believe in tailored solutions. We begin by thoroughly understanding your organization’s challenges, goals, and unique attributes. This insight guides us in crafting strategies that align precisely with your mission.
Our expertise caters to nonprofits of all sizes, from small grassroots organizations to established institutions. Our strategies are scalable and adaptable to your organization’s needs. While larger nonprofits might have specialized departments, our services are especially beneficial for smaller organizations seeking comprehensive support to optimize their operations and growth.
Our services offer numerous benefits, including enhanced operational efficiency, increased donor engagement, improved fundraising success, optimized board governance, and more. Each service is designed to drive nonprofit growth and impact.
We stay current with industry trends, regulations, and best practices. Our team continuously updates our strategies to ensure they align with the evolving needs of the nonprofit sector and provide effective solutions.
Yes, we’re committed to your long-term success. We offer post-implementation support, ensuring that the strategies we implement continue to deliver results. Our team is here to answer questions and make adjustments as needed.
Yes, many of our strategies are designed to optimize fundraising efforts. From grant writing to donor engagement tactics, our services can help you attract more funding and support for your cause.
Getting started is simple. Reach out to us through our contact form, phone, or email. We’ll schedule a conversation to learn about your organization’s needs and discuss how our strategies can support your goals.
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