401GO’s Post

We are hearing a lot of questions regarding what fees are included on a 401(k) plan. Plan Sponsor Council of America outlines the types and what should be included in services for those fees. If you have questions about your plan, and whether those fees are reasonable, we are happy to dive in. CSi Advisory Services Midwest-East

🌟 Celebrating Small Business Month! 🌟 As we honor the hard work and dedication of small business owners, it's important to think about the future—both for your business and your employees. One fantastic way to invest in your team's future is by starting a 401(k) plan. Not sure where to start? Our team at Human Interest has you covered! Check out this article on starting a 401(k) for your small business: 5 signs your small business is ready to launch a 401(k) - https://lnkd.in/guguvJRR Secure your business's success and help your employees build a brighter future. 💼💪 #SmallBusinessMonth #401k #EmployeeBenefits #FuturePlanning #SmallBusinessOwners #HumanInterest

Tax-exempt organizations can choose between offering a 403(b) or 401(k) plan. Understanding how they compare to each other will help you pick the right one for your organization. A 403(b) plan and a 401(k) plan are similar in helping employees save for the future and having access to their funds when needed. However, there are some differences which can either ease or complicate an employer’s burden in maintaining the plan. The chart below helps quickly depict key similarities and differences between the two. Knowing these factors will ensure you choose the best one for your tax-exempt organization. For a full breakdown of these factors, check out our latest blog here: https://hubs.ly/Q024jDRJ0

Attention small business owners! Discover the benefits of establishing a new 401(k) plan with insights from Paychex. This article outlines five compelling reasons why taking this step can be a game-changer for your business and the financial well-being of your employees. Explore the advantages and consider the positive impact on your company's future success. #SmallBusiness #401k #EmployeeBenefits #Paychex Read More - https://lnkd.in/gax7h5NB

Tax-exempt organizations can choose between offering a 403(b) or 401(k) plan. Understanding how they compare to each other will help you pick the right one for you or your client's organization. A 403(b) plan and a 401(k) plan are similar in helping employees save for the future and having access to their funds when needed. However, there are some differences which can either ease or complicate an employer’s burden in maintaining the plan. The chart below helps quickly depict key similarities and differences between the two. Knowing these factors will ensure you choose the best one for you or your client's tax-exempt organization. For a full breakdown of these factors, read my latest blog here: https://hubs.ly/Q024jHpQ0 #401k #403b #smallbusiness

401(k) fees are typically between 0.5% and 2%, based on the size of your employer's plan, how many people participate in it, and which provider offers the plan. Many people are under the impression that they pay no fees in their 401k, but they typically do. They are listed in a prospectus given to you when you enroll in a plan, and updated every year. To check your fees, look through your 401(k) statement or prospectus for them. The figures you will find normally represent fees in dollar amounts on the total quarterly contribution: -Total Asset-Based Fees -Total Operating Expenses as a % -Expense Ratios they may include: - investment management fees (the cut the 401(k) provider takes for itself) -12b-1 fees (for intermediaries who sell 401(k) plans to your employer, capped at 0.75% of assets) - shareholder services fee (for service to your inquiries, usually capped at 0.25%) -third-party administration fee (usually paid by the employer, this goes to the company that plans and keeps records) Hope that helps! DM if you need any guidance. Peace to your home, Constanza

🎉As a financial advisor, I'm always on the lookout for ways to boost your team's morale and secure our financial futures. And guess what? I just delved into the exciting world of 401(k) Profit Sharing, and it's a game-changer! Let me share the scoop with you: 🔑 First things first, 401(k) Profit Sharing is a great way to give back to your employees. It means you can contribute a portion of your company's profits to their retirement plans. Win-win 📈 What's more, it's super flexible! As a business owner, you aren't locked into contributing every year. You can decide annually based on how well your business performed. 💰 Here's the cherry on top - it has tax advantages! Contributions are tax-deductible, and they lower your taxable income. It can sound a bit complex. So here's a simple breakdown of the key details: Pros 🌟 Enhances employee benefits Tax-deductible contributions Flexible annual contributions Helps attract and retain talent Cons 🌧️ Can be complex to manage Requires annual nondiscrimination testing Setup and administrative costs Requires IRS filings Does this suit my business and my awesome team? Not to mention the need for a good plan administrator - because let's face it, paperwork can be a bit of a headache! 🤯 Deciding to incorporate a 401(k) Profit Sharing plan may be one of the best decisions for your business. It's a sweet way to support my employees' dreams for the Gold Watch days while also reinforcing that we're all in this together. So, if you're a business owner, and thinking, "Hey, how can I up my benefits game?" then 401(k) Profit Sharing might just be your golden ticket. Do you have a Profit-sharing plan for your employees? Comment below

Both singular and diversified paths have their merits when it comes to the avenues you can take with your 401(k). We weigh the pros and cons of these options in this helpful article: https://bit.ly/40sVduF . . . #CenturyBusinessAdvisors #NewtownPACPA #LakeMaryFLCPA #RestaurantAccountant #RetailAccountant #ServiceAccountant #ConstructionAccountant #BOSSservice #BusinessAdvisor #BusinessFoundationAdvisor

How Are 401(k) Advisors Paid? Understanding Advisor Compensation Structures While managing a 401(k) plan can be daunting, seeking professional advice from a 401(k) advisor can prove invaluable. However, it is essential to understand how advisors are compensated to make informed decisions about whom to trust. This blog post will delve into how 401(k) advisors are paid and shed light on the compensation structures commonly used in the industry. See the link for the full blog post. #FinancialAdvisor #401k #RetirementPlans #EmployeeBenefits #CUIWealth

401(k) – In-service Distribution What you might not know, however, is that your 401(k) savings may be available to roll out much sooner than you might think – often, even while you’re still working at your employer and contributing to your plan. Have you heard of it? Wanna know more ? Reach out for more information