It is never too late or too early to begin planning for retirement. As an architect, you have retirement planning concerns that are unique. Many of you are small business owners, and because of your profession, the time frame for retirement may be flexible and may likely include a gradual transition.
These two factors alone bring up a variety of retirement planning options and decisions to consider. For example:
- Do you want a retirement plan just for yourself, or for some or all of your employees?
- Are you going to retire completely and stop running your firm, or shift to part time?
- Are you planning on selling your firm when you retire, or do you want to maximize your retirement savings now?
Regardless of how and when you plan to retire, it is in your long-term interest to do whatever is necessary to protect the value of your firm. Sponsoring a tax-qualified retirement savings plan at your firm is one way to help protect its value. For many architects, your staff members are the people your clients see first and with whom they may have the most day-to-day contact. A well-chosen retirement plan can attract and retain the high-quality staff who can help keep your office running efficiently—and who, in turn, can help attract and retain your clients.
It is important to have a tax-qualified retirement plan that you know can help you save toward retirement, is easy to administer, and provides helpful tools and educational materials for planning an independent retirement. You do not want to be spending an inordinate amount of your valuable time managing your plan. Furthermore, consider your plan may need to be easily customized to suit whatever changes may lie ahead.
Your retirement planning goals and aspirations may change over time, so it is important to have a retirement plan resource that is flexible enough to fit your retirement plan needs now and in the future. So you can focus on the business of architecture, you need to simplify the process of establishing a retirement plan while ensuring full plan administration, with a diverse range of investment options and personalized service. The Members Retirement Program does just that—and it is the only retirement program endorsed by the American Institute of Architects and managed by AXA Equitable.
If you currently have a retirement plan, consider learning more about the Members Retirement Program and what it offers you. When comparing plans, consider any costs, fees or charges associated with leaving your current provider.
For more information about the Members Retirement Program, call 1-800-523-1125 or visit www.axa-equitable.com/mrp. All information and consultations are free of charge and are made available to AIA Members at no obligation.
The Members Retirement Program (contract form #6059) is funded by a group variable annuity contract issued and distributed by AXA Equitable Life Insurance Company, NY, NY. AXA Equitable does not provide tax or legal advice and is not affiliated with the AIA.
GE-69228 (6/12) (exp. 6/14)