Special Pay & FICA Alternative Plan Services
Retirement planning often benefits from custom strategies and a specialized approach for both employer and employee. USEBSG is proud to share a deep understanding and expertise within the world of custom retirement plan services.
Special Pay Plans
This plan allows employees to place accumulated sick, vacation and other leave or incentive pay into a plan that permanently avoids Social Security and Medicare taxes for both employee and employer. Employees also defer income taxes until funds are withdrawn, resulting in significant savings when facing retirement.
FICA Alternative Plans
Substituting as a private investment plan for part-time, temporary and seasonal employees’ Social Security, contributions are deducted from an employee’s wages with a deferral on income taxes. Employees are provided alternative saving options and the freedom to invest these funds as they choose, while employers save on Social Security taxes.