Retirement Benefits
401(k) Plans
Having a retirement plan in place is a great low-cost way for business owners to attract and retain key employees and encourage loyalty in today's competitive market. This key benefit allows owners and employees to save in a tax-advantaged account for their future retirement needs. We can help business owners select which type of plan is appropriate for their needs, implement that plan and help employees make appropriate investment decisions in their accounts.
Profit Sharing
Typically paired with a 401(k) plan, a profit sharing arrangement allows discretionary company contributions for the benefit of the employees. Profit Sharing is somewhat of a misnomer, since contributions do NOT require that the corporation actually have profits in a given year. Since the contributions are not mandatory, there is flexibility to the corporate entity. Many companies use this as a tool to recruit, reward and retain their employees.