Life, Inc. Blog

The Pros and Cons of a SIMPLE IRA for Small Businesses

In today's complex financial landscape, small business owners face a myriad of choices when it comes to selecting a retirement plan that not only meets their needs but also supports their employees' future financial security.  The Savings Incentive Match Plan for...

How to Protect Your Key Employees: Life and Disability Insurance for Business Owners

The success of a business often hinges on the expertise and dedication of its key employees. These individuals are the backbone of your company, and their absence can lead to significant setbacks. In this blog post, we'll discuss how business owners can protect their...

4 Retirement Plans That Your Employees Will Want to Stay For

Employees are a company's most valuable resource. They are the ones who make things happen, and they deserve to be treated well. A retirement plan is one of the best ways to show your employees that you care about them and creating a plan to incentivize the retention...

Securing A Strong Retirement Act of 2022 (SECURE 2.0)

American workers are set to be the key beneficiaries of the ongoing transformation of retirement savings plans, with small businesses playing a bigger role to make this a reality. On Tuesday, March 29, 2022, the House of Representatives turned up in a big way to pass...

Should You Support Your Employee’s Side Businesses?

As an employer, it may feel difficult to support your employee's side businesses.  But first, let’s dive into why it might be beneficial to your business by supporting them. The U.S is recognized for its great economy and hardworking population. Unfortunately, the...

Can Real Estate Investors Have A 401k Plan?

There are several ways to invest in real estate.  However, it depends on a few factors if real estate investors can have a 401k plan. While the joys of being a real estate investor are many, so are the stressors. One of the main stressors is that you have to plan for...

What Is A 401k Controlled Group? Here’s Everything You Need to Know.

If you're not sure exactly what is a 401k controlled group, this article will help you determine if you're businesses are in one.  In what seems like an ever-shrinking talent pool, being an employer that matches 401k contributions by your employees gives you an easier...

IRS Announces New 401k Contribution Limits For 2022

In the coming year of 2022, employers will look forward to the newly increased 401k contribution limits for their employees. According to the IRS Notice-2021-61, the limits of most defined contributions and defined benefit plans will be increased upwards. This also...

How Does Annual 401(k) Non-Discrimination Testing Work?

A 401(k) plan is a complex business management aspect that most small and medium-sized businesses struggle with. Non-discrimation testing just to mention one. There's a lot to understand, from confusing legal terms to strict regulations that are hard to follow when...

What Do Employees Value More: Higher Pay or Better Benefits?

Recruiting is increasingly becoming hard nowadays, and even after hiring employees, retaining them is becoming an even bigger challenge.  So, what do employees value more, higher pay or better benefits? A study shows that three million American employees quit their...
Contribution Limits You Need to Know

Contribution Limits You Need to Know

What types of things should you be thinking about? Employees Can Add More Money to Their IRA's and 401k'sThe IRS will allow employees to contribute up to $19,500 for 401k's. That's up from $19,000 in 2019. Employees 50 or older can contribute an additional $6500....

Retirement 101: Vesting

Retirement 101: Vesting

Retirement plans are not a "one size fits all," and there are a variety of programs for you to choose from. However, it is imperative to go over your specific employer's retirement options and understand their particular requirements and how they match up with your...

A Retirement Plan for Any Company

A Retirement Plan for Any Company

If you are considering a retirement plan for your business, a payroll deduction IRA is the simplest option. No plan documents are needed. As an employer, you have no filing requirements, and you do not make contributions. What could be simpler than that? A payroll...

Retirement 101: What Is a Record Keeper?

Retirement 101: What Is a Record Keeper?

When looking through retirement packages, you may notice that there are not only a lot of options, but there are a lot of people that are involved with the whole process. Understanding these different individual roles and the functions they play in your overall...

Debunking Your Biggest 401k Fears

Debunking Your Biggest 401k Fears

  Starting a new 401(k) match plan can be daunting. So many impactful questions arise when the time comes for a business to consider adding this benefit. If you find yourself thinking more and more about a 401(k) match, keeping the facts straight is important....

Retirement 101: Non-Discrimination Testing

Retirement 101: Non-Discrimination Testing

  There are a lot of benefits that come with a 401(k) retirement savings plan. Not only is it a great incentive to retain employees, but it's a great way to plan for retirement and save on taxes. However, because of the substantial tax benefits that go with a...

How the SECURE Act Effects 401(k)s

How the SECURE Act Effects 401(k)s

How The SECURE Act Affects 401(k)s Recently, Congress passed one of the largest changes to the retirement plan industry in a decade. The Setting Every Community Up for Retirement Enhancement Act, also known as The SECURE Act, has been years in the making. The SECURE...

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