401(k) & Small Business Plans

Business owners using a laptop together in their store

Small business retirement plans are more than just benefits - they’re a meaningful way to invest in your people and your company’s future. A 401(k) can provide valuable tax advantages while helping you attract and retain great employees. Whether you’re a sole proprietor or leading a growing team, we’ll help you design a plan that fits your goals, your budget, and the way you run your business.

401(k)

A 401(k) is one of the most flexible and widely used retirement plan options available. It allows employees to set aside a portion of their paycheck into a retirement account sponsored by the employer. Instead of taking those dollars home today, they invest them for the future - and in most cases, those contributions aren’t taxed until they’re distributed. It’s a simple concept with powerful long-term impact.

If you establish a 401(k) plan, you:

  • Can have other retirement plans.
  • Can be a business of any size.
  • Need to annually file a Form 5500.

Your plan can be designed to be straightforward and easy to manage or more robust and customized. IRS pre-approved options are also available to help minimize administrative headaches and control costs.

What we will do for you:

Our role goes far beyond helping you put a plan in place. We act as an advocate for your organization - essentially an extension of your business. We provide employee education and individualized planning support so your team feels confident about their retirement decisions. Behind the scenes, we conduct stress tests, benchmark it against industry standards, and compare fees to make sure you’re not overpaying and that everything is working as it should. If there are better solutions available, we’ll identify opportunities to improve your plan’s design, investments, or technology.

And because we’re not tied to any one 401(k) provider, our recommendations are built around what’s best for you. We can step into an existing plan or help you transition to a better fit if needed. Often, the easiest first step is simply appointing us as Broker of Record so we can review your current plan and show you where improvements may exist.

Our goal is simple - We aim to give you peace of mind, knowing your retirement plan is fully aligned with the effort you invest in your business and team.

For additional information on small business retirement plans, contact us today.

This information is not intended as authoritative guidance or tax or legal advice. You should consult your attorney or tax advisor for guidance on your specific situation. In no way does advisor assure that, by using the information provided, plan sponsor will be in compliance with ERISA regulations.

1 Contributions are limited to 25% of an employee's compensation or $69,000 for 2024 ($76,500 if age 50 or older)..
2 $16,000 is the current maximum  for 2024 (1$9,500 if age 50 or older). 
3 An employer may make less than the 3% contribution for two years out of five year period but it cannot be less than 1%.

https://www.irs.gov/retirement-plans/choosing-a-retirement-plan-401k-plan