Beneco, part of FuturePlan by Ascensus’ Post

Maximizing retirement savings? 💰 If there are no employees, a cash balance plan might be the best choice due to its higher limits. For clients like consultants or doctors with high income, cash balance plans allow significant contributions without impacting daily spending. For lower contributions, a SEP or 401K could be more suitable. #RetirementPlanning #CashBalancePlan #HighIncomeStrategy #FinancialPlanning #ClientSuccess

Wondering about what the maximum contribution to your 401(k) is in 2024? https://bit.ly/4ceGYio In 2024, employees can contribute up to $23,000 to their plans. But if you're age 50 or older, you can tack on an additional catch-up contribution of $7,500, bringing the total amount you can contribute as an employee to $30,500. Let’s talk about your retirement plan! #pciaozarks #money #investing #finance #springfieldmo #fiduciary

Small business owners are the backbone of the U.S. economy, and yet, many of them do not offer retirement plans to employees. In a recent survey by Capital Group, 65 percent of small business owners aren’t offering retirement plans to employees. With the SECURE 2.0 Act moving toward having small businesses offer retirement – and […] The post Top things holding small business owners back from offering retirement plans to employees appeared first on Prenger and Profitt .

If you are self-employed or own a small business, you may be able to establish a savings incentive match plan for employees (SIMPLE) IRA plan. A SIMPLE IRA plan is a salary reduction retirement plan for certain small businesses that is established in the form of employee-owned traditional individual retirement accounts (but with a higher contribution level). To qualify, you can't maintain another employer-sponsored retirement plan and must have no more than 100 employees who were employed in the past year and who earned at least $5,000. The SIMPLE IRA plan is funded with voluntary employee contributions and mandatory matching or nonelective contributions by the employer. Establishing such a retirement plan can provide you with a tax-advantaged way to save funds for your retirement; it may also help you attract and retain qualified employees.

If you are self-employed or own a small business, you may be able to establish a savings incentive match plan for employees (SIMPLE) IRA plan. A SIMPLE IRA plan is a salary reduction retirement plan for certain small businesses that is established in the form of employee-owned traditional individual retirement accounts (but with a higher contribution level). To qualify, you can't maintain another employer-sponsored retirement plan and must have no more than 100 employees who were employed in the past year and who earned at least $5,000. The SIMPLE IRA plan is funded with voluntary employee contributions and mandatory matching or nonelective contributions by the employer. Establishing such a retirement plan can provide you with a tax-advantaged way to save funds for your retirement; it may also help you attract and retain qualified employees.

If you are self-employed or own a small business, you may be able to establish a savings incentive match plan for employees (SIMPLE) IRA plan. A SIMPLE IRA plan is a salary reduction retirement plan for certain small businesses that is established in the form of employee-owned traditional individual retirement accounts (but with a higher contribution level). To qualify, you can't maintain another employer-sponsored retirement plan and must have no more than 100 employees who were employed in the past year and who earned at least $5,000. The SIMPLE IRA plan is funded with voluntary employee contributions and mandatory matching or nonelective contributions by the employer. Establishing such a retirement plan can provide you with a tax-advantaged way to save funds for your retirement; it may also help you attract and retain qualified employees.

If you are self-employed or own a small business, you may be able to establish a savings incentive match plan for employees (SIMPLE) IRA plan. A SIMPLE IRA plan is a salary reduction retirement plan for certain small businesses that is established in the form of employee-owned traditional individual retirement accounts (but with a higher contribution level). To qualify, you can't maintain another employer-sponsored retirement plan and must have no more than 100 employees who were employed in the past year and who earned at least $5,000. The SIMPLE IRA plan is funded with voluntary employee contributions and mandatory matching or nonelective contributions by the employer. Establishing such a retirement plan can provide you with a tax-advantaged way to save funds for your retirement; it may also help you attract and retain qualified employees.

Employer-provided 401(k) plans aren't just for the employees who can afford to put money into them. Learn how to engage with all potential retirement plan participants—including the lowest earners who may be financially struggling—to ensure your entire team is on track for the future: https://ow.ly/5MTS50Tx9K6

Workplace retirement plan success can depend on a critical factor -- enrollment. There are three roadblocks preventing participation; misunderstanding eligibility requirements, saving can be confusing, and debt, salary, and expenses. New research shows ways to boost retirement plan participation among employees for plan sponsors. Read More Here: https://lnkd.in/ddXYZkCu #retirementplan #financialadvisor #enrollment #melville

Employer-provided 401(k) plans aren't just for the employees who can afford to put money into them. Learn how to engage with all potential retirement plan participants—including the lowest earners who may be financially struggling—to ensure your entire team is on track for the future: https://ow.ly/kiFF50Tttxu