For more than 40 years, we’ve worked with business owners to design retirement savings plans that support their individual and business goals.
Benefits of an Employer Retirement Plan
LET US DO THE HEAVY LIFTING
We recognize that as a business owner, your time and energy need to be devoted to growing your company. Our goal is to assist you in navigating the complexities that come with the design and administration of a company retirement plan. A well-designed and implemented retirement plan can do the following:
- Attract and retain top talent - Retirement plans can facilitate positive employee relations while reducing turnover.
- Take advantage of tax credits - Eligible contributions are deductible expenses to your business.
- Help your employees build a brighter future - All contributions have the potential to grow tax deferred until withdrawn.
MAKING THE COMPLEX SIMPLE
We assign a dedicated team that works with you every step of the way. Learn more about your Lead Financial Advisor, Sherri Stephens and Project Manager MaryAnn White.
We ensure that you have a clear understanding of your role as a plan fiduciary - protecting the plan assets and with responsibility for the plan’s maintenance.
By understanding your unique financial situation and business goals, as well as any existing retirement plans, we can present retirement plan options along with advantages and trade-offs, costs, and investment options. In addition, we bring to the table potential partners to serve as third-party administrators and record keepers.
RETIREMENT PLAN MAINTENANCE & MONITORING
When it comes to retirement planning, there is no such thing as a “one size fits all” approach. Our team is passionate about designing a solution that helps you, the plan sponsor, meet your fiduciary duties and company goals. We provide any or all of the following services:
- Investment Policy Review
- Asset Allocation Analysis and Guidance
- Investment Search and Selection Assistance
- Performance Reporting
- Research and Due Diligence
- Services and Education for Fiduciaries
- Group Education
Which Retirement Plan Is Right For Me?
For many business owners, the question is not “Should I implement a retirement plan?” but rather, “Which plan is right for my business?” Below are answers to some common questions.
What resources are available for my employees?
As soon as your employees are enrolled in your 401(k) plan, they will receive training and information related to enrollment, getting started, choosing investments, and more.
As a business owner, am I required to match my employees' contributions?
It depends on the type of retirement plan you have. If you select a Safe Harbor plan, then employer contributions on behalf of the employees are required. If you select a Non-Safe Harbor plan, no employer contributions are required. If you make contributions, however, they are tax-deductible. You have the discretion to offer a match or make additional profit-sharing contributions. This amount can change from year to year.
I own more than one company, or there are multiple entities involved in my organization. Can they be included under one retirement plan?
We would need to know if the companies are deemed to be part of a Controlled Group and if the companies share ownership that would be eligible to pool their employee base into a single plan.
Selecting the right retirement plan is key to keeping your business’s bottom line healthy while meeting the needs of your employees. Browse the seven plan types below to learn more.
simplified employee pension (sep) plans
A SEP plan is an employer-sponsored, tax-favored retirement plan that offers small businesses an attractive alternative to standard profit-sharing plans.
simple ira plans
The Savings Incentive Match Plan for Employees (SIMPLE) IRA is a low-cost alternative for employers who view 401(k) administrative costs as limiting but still want to offer their employees a retirement savings plan.
profit-sharing plans
Profit-sharing plans offer employers both design flexibility and discretion when making contributions. Employer contributions are self-determined and can be allocated in a number of ways.
age-weighted & comparability profit-sharing plans
These plans use allocation methods that base contributions on both the age and compensation of eligible employees. They are similar in concept to defined benefit pension plans, but contributions are discretionary.
401(k) profit-sharing plans
A 401(k) plan is a type of profit-sharing plan that includes an elective salary deferral provision. A Roth 401(k) plan is a relatively new feature of a 401(k) plan that permits participants to make after-tax salary deferrals into a 401(k) plan. Safe Harbor 401(k) plans are not subject to nondiscrimination tests and, therefore, all employees have the opportunity to maximize deferrals.
owner-only & one-person 401(k) plans
Operators of owner-only businesses – those that either have no additional employees or one in which all employees can be lawfully excluded from a qualified retirement plan – may find the owner-only 401(k) plan to be an attractive arrangement.
defined benefit pensions
The traditional defined pension benefit plan is designed to provide a specific amount of retirement. Employers bear the risk of providing a promised level of retirement benefits to participants.
Blogs & Podcast Episodes for Business Owners
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