Pension Plans (Oklahoma Customers Only)
Pension Plans fall into two major categories: defined benefit plans and defined contribution plans.
Defined benefit plans are traditional plans that promise a certain monthly benefit upon retirement. The employee's retirement income is based on a formula that takes into account factors such as age, earnings, and years of service.
In recent years, most companies have shifted to defined contribution plans. The benefits at retirement are not guaranteed but are based on the funds accumulated in each employees account. Examples of defined contribution plans include:
- Profit-sharing plans
- Money purchase plans
- 401(k) plans
Contact us to learn more about pension plans and how it can help your business attract and retain employees.
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Securities and Insurance products offered through LPL Financial and its affiliates, Member FINRA / SIPC. International Bank of Commerce is not a registered broker dealer and is not affiliated with LPL Financial.
NOT A DEPOSIT | NOT FDIC-INSURED | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY | NOT GUARANTEED BY BANK | MAY LOSE VALUE
This site is designed for U.S. residents only. The services offered within this site are available exclusively through our U.S. registered representatives. LPL Financial Services’ U.S. registered representatives may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state.