All plan related expenses and contributions are fully tax deductible. We will run a detailed analysis of the tax consequences of your current plan as well as all of your other qualified retirement plan options. Many times, the pure mathematics justify setting up a plan even if you disregard the benefits below.
2. Employee Recruitment / Retention
If your company doesn't currently offer a 401(k) plan, you need to start one. Even if the owner doesn't want to contribute, employees deserve to have the option of tax-advantaged retirement savings. 401(k) plans are relatively inexpensive and most payroll providers can help you with the majority of the work. In addition to saving their own money, any money employees get from the company is a part of their total compensation package. Most employees understand this and it makes your company a more desirable place to work.
3. Bankruptcy Protection
Having money in a qualified pension plan generally keeps it protected from creditors even if the plan sponsor goes bankrupt.
Cash Balance Actuaries, LLC
970 Iris Circle Excelsior, MN 55331 W: 952.500.8696 Email Us
1. Tax Savings
2. Employee Recruitment / Retention
3. Bankruptcy Protection.png)
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