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First Casualty Insurance Group, Inc.
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 Group Plans 

Types & Uses of Retirement Plans for Business/Group/Employees*

Simplified Employee Pension (SEP) Plan: For self-employed people and small business owners who wish to make tax-deductible contributions of up to $40,000 or 25% of their income, whichever is less, and that of their eligible employees.

Simple IRA Plan: For firms of 100 or fewer employees to establish an employee savings program for pre-tax contributions of up to $7,000 per year.

Profit Sharing Plan (Keogh** Plan): For business owners who wish to make tax-deductible contributions of up to 15% of each participant's pay, and have vesting and loan schedules not available with a SEP.

Money Purchase Pension Plan (Keogh** Pension Plan): For business owners with predictable incomes who wish to make pre-determined tax-deductible contributions of up to 25% of each Participant's pay.

Age-Weighted or Comparability Plan: For business owners who are older and more highly paid than most of their employees and wish to allocate contributions under a formula based on both age and salary.

Defined Benefit Pension Plan: For business owners who wish to contribute enough money each year to provide a specific benefit upon retirement. This may be beneficial to older employees with a high, stable income who need a rapid accumulation of assets over a short period of time.

401(k) Plan: For employers who wish to allow employees to make pre-tax contributions through payroll deductions of up to $11,000 per year or 25% of their pay, whichever is less.

Safe Harbor or DASH 401(k) Plan: For business owners who wish to give their employees the advantages of a 401(k) plan, while maximizing the amount they can put away for themselves.

403(b) Plan: For employees of public schools, non-profit hospitals and other certain tax-exempt organizations. Also known as a Tax-Sheltered Account.

Our agency does not provide legal or tax advice. For specific legal or tax advice based on your situation, please contact your attorney of tax advisor.

** The term "Keogh" or "HR-10" describes any type of retirement plan established by an nincorporated business - whether it be a profit sharing, money purchase or defined benefit plan.

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We currently provide insurance services in:

  • North Carolina
  • South Carolina
  • Virginia
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    Disclaimer: Please note that completion of the following request for information does not constitute the purchase of insurance. No coverage may be added, changed or bound as a result of submitting this request for information or quotation of insurance. All coverage must be confirmed by the agency in writing subject to an acceptable signed application meeting the underwriting guidelines of the Insurance Company. First Casualty Insurance Group, Inc. is licensed in the states of North Carolina, South Carolina and Virginia. No solicitation of insurance is being made outside of this these states.

    Statements on this web site as to policies and coverage provide general information only. This information is not an offer to sell insurance. Insurance coverage cannot be bound or changed via submission of any online form/application provided on this site or otherwise, email, voicemail or facsimile. No binder, insurance policy, change, addition, and/or deletion to insurance coverage go into effect unless and until confirmed directly by a licensed agent. Any proposal of insurance we may present to you will be based upon the information you provide to us via this online form/application and/or in other communications with us. Please contact our office at (800) 352-3416 to discuss specific coverage details and your insurance needs. All coverage is subject to terms, conditions and, exclusions of the actual policy issued. Not all policies or coverage is available in every state. Information provided on this site does not constitute professional advice; if you have legal, tax or financial planning questions; you should contact an appropriate professional. Any hypertext links to other sites are provided as a convenience only; we have no control over those sites and do not endorse or guarantee any information provided by those site.

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