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Small Business Retirement Planning

Business owners are in a unique position to provide retirement benefits to their employees. For businesses with fewer than 100 employees, we can customize your small business retirement planning strategy to fit your company’s needs. We'll help you set up a 401(k) or 403(b) plan for your employees. We’ll even educate them about their plan options and help them enroll and contribute.

There are many benefits to setting up a retirement plan for your employees. Having a 401(k) or 403(b) can help you attract and retain employees. It’s also a great way to reward them for their loyalty, especially when you add stock options to the mix. Finally, the cost of your retirement plan can reduce your company’s tax liability. We’re here to help you understand your options and select a plan that meets your needs.

401(k) Plan & 403(b) Plans for Your Employees

401(k) Plan & 403(b) Plans for Your Employees

While you have the option to set up a SIMPLE IRA for your employees as a small business owner, 401(k) plans have certain advantages. For example, the contribution limits for 401(k)s are much higher, which makes the retirement plan more meaningful to you and your employees. You’re not required to contribute to your employee’s retirement savings with a traditional 401(k), either, although it’s not a bad idea to consider matching their contributions.

403(b) plans offer similar advantages for nonprofit organizations. We can help you set up an employer-sponsored plan that meets your needs and helps your employees work toward their retirement goals. This includes making sure you’re meeting all legal requirements. We’ll even help you educate your employees about the retirement plan, how to enroll; and how to make contributions.

Solopreneur Options

Not every small business has employees. Maybe you have dozens of people working for you, but they’re independent contractors. Or maybe you run the business with the help of family members and part-time assistants. You’ll still want to consider setting up a retirement account to make sure your financial future is secure. We can help you find and select a solo 401(k) that allows you to make the maximum contributions to your retirement.

Frequently Asked Questions

There are many benefits to setting up a retirement plan for your employees. The job market is very competitive. Prospective employees are more likely to work for and stay with your company if they can invest in their own retirement. With the right 401(k) plan, you can even offer stock reward options. Finally, having a small business retirement plan can provide tax benefits for your business.

Different retirement plans have unique rules. For example, some plans mandate employer contributions, while others don’t even allow employee contributions. You also have to consider the fees associated with the setup and administration of the plan, and you’ll want to use a retirement plan that integrates with your payroll system. We’re here to help you make the best choice for your situation.

The biggest differences between retirement plans are the contribution limits and the contributors. Generally, traditional 401(k)s and 403(b)s allow the highest contributions. Some plans only consist of employer contributions, and some plans only use employee contributions. Traditional plans use a combination of both, although employer contributions aren’t required.

There are a lot of options to weigh when considering a small business retirement plan. Working with our retirement planners can help you choose the right plan. It's also best to have a fiduciary for your plan to avoid carrying that liability yourself.

Our advisors are here to educate your employees and help them with enrollment and contributions. If you don’t have employees, we can help you prepare for your own retirement with a solo retirement plan.

Let’s Discuss Your Small Business Retirement Plan

Let’s Discuss Your Small Business Retirement Plan

If you’re ready to set up a retirement plan for your small business, we’re here to help. You can rely on our knowledge and expertise to help you choose the plan that has the features you’re looking for. Contact us today to start setting up your retirement plan for your company.