Employer Sponsored Plan
As a business owner you may fall in one of these categories: you offer a retirement savings plan to your employees or you've yet to develop a retirement plan for your business. At Hebrink Wealth Management which ever category you may be in, we can help assess where your business is currently at and guide you along the way. A small business retirement plan can help to: Reduce your business taxes, Build vital personal retirement savings and Provide and attractive benefit to recruit, retain and reward employees.
If you have yet to develop a retirement plan for business, or if you're not sure the plan you've chosen is the right one, here are some things you will want to consider:
- How much can my business afford to contribute?
- What plan accommodates high employee turnover?
- Do I want to maximize contributions for myself (and my spouse)?
- My priority is to keep administration easy and inexpensive.
As a business owner offering a retirement savings plan to your employees, it's important to go over your plan every year to make sure it's still meeting your needs. Here are some things we should typically review:
- Match contribution
- Vesting schedule
- Plan options
- Fiduciary responsibilities & Investment Policy Statement