Whether you are considering establishing a new 401(k) plan or converting your existing SEP or SIMPLE IRA plan, we'd be happy to discuss the advantages of a 401(k) and the potential for both cost savings and tax benefits for your clients. While SEP and SIMPLE IRAs offer small business retirement plan solutions, the benefits of a 401(k) are clear: More flexibility Higher contribution limits for all Opportunity to maximize contributions Roth contributions Both employee and empl

Suppose you are thinking about switching from a traditional pension plan to a cash balance plan for your company and employees. How much will this cost your company? What is a cash balance plan? How does it work? If you have never heard of a cash balance plan these may be questions that you have in this situation. Let's look at what a cash balance plan is so that if a situation like this ever comes up you know what to expect. What is a Cash Balance Plan? A cash balance plan i

As a guy who has earned his living from the qualified retirement plan business for many years, I can confidently say the retirement plan business has been a great place to be. In my opinion, the advisor has been at the forefront of this business. The hard work in this business has been prospecting, finding businesses that will listen to you, gaining their trust, and being willing to implement your suggestions. The human touch is irreplaceable. No recordkeeper—hundreds or even

When choosing a 401(k) retirement plan for your employees, you should understand the associated benefits and it's effects on the company. With so many retirement plans out there, it can be difficult to understand the pros and cons of each. And sometimes, the one you chose doesn't provide the full benefits you had hoped for. In this blog, we will be discussing the two most popular retirement plans: a Traditional 401(k) and a Safe Harbor 401(k). Traditional 401(k) Traditional

When it comes to saving for retirement, companies offer many different types of retirement plans. Among the most popular are 401(k) plans which allow employees to contribute a percentage of their income to their personal retirement account. With a 401(k) plan, most employers will match a portion of the employee's contribution, providing an immediate boost to the individual's savings. However, the perks don't stop here, let's discuss some of the lesser-known benefits of 401(k)

By offering a 401(k) plan to your employees, you provide a useful perk for working at your company and helping them save for retirement. For many, it may also influence them in accepting a job offer. Along with a retirement savings plan, employers may also offer employer matching contributions on employee deferrals. What exactly does that mean and what are the pros and cons of doing so? Let's talk about it. What is a 401(k) Employer Matching Contribution? Employers who offer