401(k) Plans Are Making a Big Impact for Construction Workers
Imagine a roofing company. If that company has an incentive to offer workers a retirement plan with company-provided matching contributions, it may be the only avenue those workers have to produce a cushion at the end of their working career.
Why a Cash Balance Plan is Good for Small Businesses
Cash balance plans are emerging as the hybrid that the market is looking for, as they boast the high contribution limits of defined benefit plans and the straightforwardness of defined contribution plans.
Technology is a 401(k) Game Changer for Small Businesses and Financial Advisors
401GO’s founders are serial entrepreneurs who wanted to offer their employees the many benefits of a 401(k) plan — only to discover that the status quo presented impediments serious enough to make it nearly impossible.
Colorado SecureSavings Pros and Cons
Batman vs. Superman. Hulk vs. Wolverine. Frankenstein vs. Dracula. These are legendary contests, and while we don’t claim that 401GO vs. Colorado SecureSavings is as entertaining as the others, we assert that the results are much more relevant. Our contest is more like a presidential debate than a boxing match, and we’re letting you decide who the winner is.
403(b) Contribution Limits
A lot of people are familiar with 401(k)s, even though the name could not possibly be less catchy or memorable (if you didn’t know, it’s named for a tax code). Fewer people are familiar with 403(b)s, which are essentially retirement vehicles for those working for nonprofits, such as teachers, the military and other government workers. A 403(b) is very much like a 401(k), but there are some differences that are worth knowing if you work for a nonprofit, such as what the contribution limits are.
The Tax Benefits of Retirement Plans
Most people know that socking money away in a 401(k) is a good strategy for helping to ensure a more secure retirement. But not everyone understands the tax benefits involved — not just for participants in the plan, but also for the business owners and corporations that sponsor the plans. And although small-business owners stand to gain less than larger businesses in the form of tax breaks, these gains are often more valuable to a small business because they have less flexibility in their budgets.
Are Small Businesses Required to Provide a 401(k) Match?
As a small-business owner, if you’re thinking about sponsoring a 401(k) plan, you may wonder about a company match. Are small businesses required to offer a 401(k) match, or is it merely an option? The short answer is no, you don’t have to provide matching contributions to your employees’ 401(k) accounts, but there are good reasons to do it anyway. Below, we discuss the pros and cons of providing employer matching contributions as part of your 401(k) plan.
Strategies to Supercharge Your IRA & Maximize Returns
Saving for retirement is a race, and you don’t want to fall behind into that group of slackers at the back of the pack. If you think it’s all about complicated investment strategies and other nebulous concepts out of your control that you don’t fully understand, it’s not. I mean, some of it is — but a lot of it isn’t. We’re here to tell you that there are things you can do to feather your retirement nest in a fluffier way.
How to Establish a Vesting Schedule for Your Company’s 401(k)
If you are just starting a 401(k) at your company, you may be wondering about vesting. How should you decide what type of vesting schedule to establish? Does it really matter? Although some people might not think so, we think it matters, and the schedule you settle on can affect many aspects of your business. In this post, we explain how your choices matter to your business today, and in the future.
State Retirement Mandates and Hiring: Attracting Talent to Small Businesses
At first glance, having to stay in compliance with more laws may seem like a bad thing. But if you look at it slightly differently, you may realize that you can benefit from your state’s retirement plan mandate.