401(K) Planning

We’ll assist you in choosing the right options for your company

401(k) planning for your business

While common among large companies, small businesses can also use 401(K) plans for retirement and offer an array of investment options. Offering a retirement plan is a smart way to help level the professional playing field between your small business and larger companies.

A good retirement plan can help you to:

  • Attract talented people in today’s challenging job market.
  • Retain valuable employees who want retirement options in their benefits package.
  • Enjoy tax advantages that may be available to you as an employer offering the plan.
Strategic targeting

Selecting the right retirement plan is important to both companies and employees, which is why we encourage you to consult with one of our professionals.

Business 401k planning

What are the requirements?

  • Creating a written plan for the administration
  • Establishing a trust fund for the planned assets
  • Adhering to more strict record keeping requirements
  • Adhering to fiduciary responsibilities and duties

Typically outside firms handle the operational aspects of a 401(K) plan due to substantial administrative requirements. There is also a plan available to sole proprietors called a Solo(K).

Employers have the ability to establish “vesting” schedules to increase employee retention and contribution. This allows participants to decide how much to contribute to their accounts on a before-tax basis. Employers are able to take advantage of tax deductions for their contributions to employee’s accounts. Generally speaking, the Federal and State governments will not tax contributions and earnings until they are distributed.

A 401(K) plan might allow participants to take their benefits with them once they leave the company which helps to alleviate administrative burdens.

We will be sure to work with you to find a 401(K) plan that is best suited for your company and its needs.


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