The profit-sharing 401(k) rule enables employers to contribute a portion of their company's profits to employees' retirement savings accounts. Unlike traditional 401(k) plans where employees make elective deferrals, profit-sharing contributions are made solely by the employer and are discretionary. Employers have the flexibility to determine the amount of the contribution each year based on business performance. Profit-sharing contributions are subject to IRS limits, including the annual addition limit and the maximum percentage of compensation. This rule provides a valuable incentive for employees to participate in retirement savings while allowing employers to align contributions with company profitability. #retirementplanning #taxplanning #businessowners
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Approximately 60 million workers contribute to a 401(k)-retirement plan. A 401(k) is a tax-advantaged retirement savings plan companies offer employees and is funded through elective salary deferrals. There are several benefits to having a 401(k), especially if you are a high earner, that offer ways to build a substantial retirement. https://hubs.ly/Q02r46hd0 #WitekWealthManagement
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Approximately 60 million workers contribute to a 401(k)-retirement plan. A 401(k) is a tax-advantaged retirement savings plan companies offer employees and is funded through elective salary deferrals. There are several benefits to having a 401(k), especially if you are a high earner, that offer ways to build a substantial retirement. However, there are some downsides to keep in mind. Here are both the pros and cons to consider: https://hubs.la/Q02z1QdS0
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A 401(k) is a tax-advantaged retirement savings plan companies offer employees and is funded through elective salary deferrals. There are several benefits to having a 401(k), especially if you are a high earner, that offer ways to build a substantial retirement. However, there are some downsides to keep in mind. Here are both the pros and cons to consider: https://hubs.ly/Q02r37Kn0
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Access to retirement savings plans is a perk that frequently appears at the top of employees' wish lists. But how do employers know if offering a plan makes sense for their budget? We teamed up with Guideline to create a free, user-friendly calculator that quickly estimates the cost of offering your employees access to 401(k) savings: t.ly/E_4qJ
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If you own a business or manage a retirement plan, you'll want to read this article by Greg Tedone, CPFA, ARPC in the June edition of Central New York Business Journal. To see how you stack up, check out the free benchmark guide referenced in the article. https://lnkd.in/gMa9We24 #401k #RetirementPlans #EmployeeBenefits #benchmarkguide #recruit #reward #retain #retire
🚀 Proud to be featured in the June edition of the Central New York Business Journal! We've developed a free Plan Benchmarking Tool to help companies optimize their 401(k) plan. We know how to deliver exceptional retirement plan programs, making this benefit essential for employers who want to remain competitive. #401k #RetirementPlans #EmployeeBenefits
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Experienced CPA helping companies modernize and streamline accounting and tax processes. Do the old stuff in new ways.
Recent studies show that only about ⅓ of small businesses have a workplace retirement plan in place. Instead of defaulting with your state, learn about the custom retirement plan options available to your specific business, and seamlessly integrate it with your payroll process through Abacus Payroll. Learn more about our retirement plan services on our website today! #AbacusPayroll #retirement #retirementplan #business #businessowner
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Recent studies show that only about ⅓ of small businesses have a workplace retirement plan in place. Instead of defaulting with your state, learn about the custom retirement plan options available to your specific business, and seamlessly integrate it with your payroll process through Abacus Payroll. Learn more about our retirement plan services on our website today! #AbacusPayroll #retirement #retirementplan #business #businessowner
Workplace Retirement Plans - Abacus Payroll Inc.
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Recent studies show that only about ⅓ of small businesses have a workplace retirement plan in place. Instead of defaulting with your state, learn about the custom retirement plan options available to your specific business, and seamlessly integrate it with your payroll process through Abacus Payroll. Learn more about our retirement plan services on our website today! #AbacusPayroll #retirement #retirementplan #business #businessowner
Workplace Retirement Plans - Abacus Payroll Inc.
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Interesting statistics from this year. How do you feel as a company about what you are doing to help your employees save for retirement? Employee education is key. The chart below shows the 401K balance by age https://lnkd.in/gY6mFv92
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💡 Did you know your employer’s match in a 401(k) goes to pre-tax even if you contribute to a Roth 401(k)? Employer matches in 401(k) plans can significantly boost your retirement savings. But did you know the match is always pre-tax? How did you choose rather to utilize the 401 (K) Roth vs continue contributing only to the 401 (K) pre-tax portion? #401k #EmployerMatch #RetirementSavings #InspireFinancialServices
