Business owners who are willing to invest in their team members’ futures. Most plans have at least $1 million of assets. Our emphasis on transparency and education enables us to help business owners mitigate the risk of sponsoring a retirement plan. In fact, you can even delegate the fiduciary liability!
As an employer sponsoring 401(k) plan, are you taking advantage of powerful techniques that will enhance the chances of your employees making it to their retirement destination? Are you using the right processes, systems, and techniques to responsibly manage your company’s retirement plan? Are you doing everything you can to ensure your employees feel confident that they will have enough money to retire and pay for all the things they desire to do someday?
Desired Retirement reveals valuable strategies that will significantly impact retirement outcome results for you and your employees.
Traditional 401(k) is a basic retirement benefit for employees. Can be designed with flexible features, such as eligibility, vesting, participant loans, and distribution options. With proper plan design, they can reduce costs by helping companies recruit and retain employees.
Features and Benefits
Contribution Limits
Safe Harbor 401(k) is a great plan for owners and highly compensated employees wanting to maximize contributions and avoid refunds from a failed testing.
Features and Benefits
Contribution Limits
Profit Sharing Plans differ from 401(k) Plans in that all contributions are made by the employer. Contributions are allocated to participants in proportion to salary. Can be a stand-alone plan or combined with 401k.
Features and Benefits
Contribution Limits
New Comparability Plans are a type of Profit Sharing plan that allows businesses to make targeted contributions to owners, highly compensated employees, or select employee groups. Can be stand-alone plan design or combined with 401k.
Features and Benefits
Contribution Limits
Cash Balance Plans are a hybrid plan design often adopted by employers and business owners seeking to fund much higher contributions than allowed in 401(k) and Profit Sharing plans. It can be a powerful vehicle to accelerate retirement savings while producing significant tax savings on current income.
Features and Benefits
Contribution Limits
Defined Benefit Plans allow employers to assure employees of their retirement income by defining the benefit at retirement age. To fulfill the benefit (or promise to pay at retirement), these plans require annual contributions determined by an actuary. Defined Benefit Plans can sometimes allow employers to fund much larger contributions than 401(k) and other defined contribution plans.
Features and Benefits
Contribution Limits
Multiple Employer Plans are a simple structure and a cost effective option for small to medium-sized companies that lack the expertise and personnel capacity to manage their own retirement plan.
Not sure whether your 401k plan is competitive? We can provide a comparative assessment of costs, investment options, and service provided.
By: Kati Krause If your workplace offers you the chance to save for retirement with a 401(k) plan, it’s crucial that you opt-in and make the most of this benefit. Your 401(k) is vital because very few workers receive...