by Ryan Neff | Feb 1, 2020 | Uncategorized
The Department of Labor requires you to benchmark your 401K at least once every three years, but it’s actually recommended that you benchmark your 401K more frequently. Benchmarking is important because you’ll need to evaluate your current 401K plan...
by Ryan Neff | Feb 1, 2020 | Uncategorized
If your business is not offering a retirement plan, you’re missing out on a lot of benefits. It’s not only suitable for your employees but also for you as a business owner. You might be reluctant to offer a 401k plan due to concerns on issues related to...
by Ryan Neff | Feb 1, 2020 | Uncategorized
The most heavily scrutinized fiduciary duty of a plan sponsor is its role as an Investment Steward, which also extends to members of the plan’s investment committee, trustees, and anyone else who is involved in the oversight of investment decisions for the plan....
by Ryan Neff | Feb 1, 2020 | Uncategorized
For many small businesses comprised of one or several highly compensated employees and a few non-highly compensated employees, the Safe Harbor 401k plan may be the best option if maximizing contributions is a primary objective. Safe harbor plans effectively remove the...
by Ryan Neff | Feb 1, 2020 | Uncategorized
Determining if you have highly compensated employees (HCEs) isn’t hard. The Internal Revenue Service (IRS) is clear on who qualifies as an HCE. An HCE is an individual who: Owned more than 5% interest in the business during the current or preceding tax year....
by Ryan Neff | Feb 1, 2020 | Uncategorized
Small business owners may think that a 401(k) retirement plan is too complex to implement and too costly to maintain. But offering a retirement plan is crucial to attracting and retaining employees. Nearly 51% of employees joined their current company because of the...
