Employee Benefit Plans

Offering additional retirement or education benefits can help your business attract the best employees. Let Lowell Five help you.

Through our relationship with James Shannon and Thomas McCarthy with KAF Wealth Management, LLC,* and Lincoln Investment, the Lowell Five Banking team can help you provide attractive employee benefits to retain top talent, including 401(k), defined benefit retirement plans, employer-sponsored 529 plans, and more.

Retirement Plan Offerings

KAF can help steer you through the best possible options for retirement plans both for your employees or if you are self-employed. They can advise and develop both qualified defined benefit plans, such as pensions, or defined contribution plans such as simple IRAs, self-employed-IRAs and 401(k)s, and employer sponsored 401(k) and 403(b) plans. A thorough assessment and planning process will find the type of plan or plans that are the best fit for you and your employees.

You can also access comprehensive estate planning services. This can be particularly helpful for owners of smaller businesses, where business retirement options overlap with individual and family options you have already set up for yourself.

Employer-Sponsored 529 Plans

One easy employee benefit option is to offer an employer-sponsored 529 plan. 529 plans allow parents, grandparents and others to save for qualified higher education expenses, such as tuition, fees, and room and board. Limited amounts can now also be used at the K-12 level.

Contributions for a 529 Plan are drafted from employee bank accounts and all growth is tax free if used for qualified education expenses. While you’ll be the sponsor, there is no cost to you to provide this benefit and your employees control their own funds.

*Check the background of these financial professionals on FINRA’s Broker Check.

The products offered: (i) are not FDIC insured; (ii) not deposits or obligations of Lowell Five Bank or its affiliates; (iii) not guaranteed by Lowell Five Bank or its affiliates; (iv) not insured by any federal government agency; (v) may go down in value.

Lincoln Investment and Lowell Five Bank are not affiliated. Advisory services offered through Capital Analysts and Lincoln Investment, Registered Investment Advisers. Securities offered through Lincoln Investment, Broker/Dealer, Member FINRA and SIPC. www.lincolninvestment.com. KAF Wealth Management, LLC and the above firms are independent and non-affiliated. Legal services associated with estate planning, tax or social security claiming are not offered through, nor supervised by, The Lincoln Investment Companies.

This site has been prepared solely for information purposes and is not intended to be a solicitation, offer or sale of securities products or investment advisory services to anyone who resides outside of the United States. Lincoln Investment and Capital Analysts are registered as investment advisers with the U.S. Securities and Exchange Commission and Lincoln Investment is registered as a broker/dealer in all 50 states. Lincoln Investment, Capital Analysts and its Financial Representatives may only transact business in a particular state if first registered and only after complying with registration requirements. When you link to any of these websites provided here, you are leaving our website and assume total responsibility for your use of the sites you are visiting. We make no representation as to the completeness or accuracy of information provided at these sites, nor are we liable for any direct or indirect technical or system issues or consequences arising out of your access to or use of these third-party sites.

Participation in a 529 College Savings Plan (529 Plan) does not guarantee that contributions and investment return on contributions, if any, will be adequate to cover future tuition and other education expenses or that a beneficiary will be admitted to or permitted to continue to attend an educational institution.  Contributors to the program assume all investment risk, including potential loss of principal and liability for penalties such as those levied for non-educational withdrawals.

An investor should consider, before investing, whether the investor’s or designated beneficiary’s home state offers any favorable state tax treatment or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state’s qualified tuition program.  Consult with your financial, tax or other adviser to learn more about how state-based benefits (including any limitations) would apply to your specific circumstances.  You may also wish to contact your home state or any other 529 college savings plan to learn more about the features, benefits and limitations of the state’s 529 college savings plan.  Furthermore, the Tax Cuts and Jobs Act that was signed into law on December 22, 2017 allows for up to $10,000 a year per beneficiary in tax free distributions from a 529 Plan if used for tuition incurred from enrollment or attendance at a public, private, or religious elementary or secondary school.  Check with your state’s guidelines prior to withdrawing the funds.

For more complete information, including a description of fees, expenses and risks, see the offering statement or program description.