When it comes to building long-term wealth and reducing taxable income, Defined Benefit (DB) plans can be one of the most powerful retirement tools available to business owners. Unlike 401(k)s or profit sharing plans, Defined Benefit plans promise a specific …
Retirement plan terminology can be confusing, even for business leaders who already sponsor a 401(k) or other benefit program. Terms like “defined benefit,” “qualified benefit,” and “pension plan” are often used interchangeably, but in reality, they refer to distinct concepts …
Cash balance plans are a popular option for employers who want to offer a defined benefit retirement plan that presents benefits in a way similar to a 401(k), making them easier …
In December 2022, The SECURE Act 2.0 was passed bringing noteworthy changes to retirement savings in the United States. It works to make saving for retirement more accessible and flexible for individuals across various …
As a business owner, your time is precious, and figuring out how to manage that time can be overwhelming. The more success you find in your industry, the more your list of responsibilities grows. To have a firm grasp on …
A Safe Harbor 401(k) plan offers a straightforward way for businesses to help employees save for retirement while simplifying compliance for employers. Unlike traditional 401(k) plans, Safe Harbor plans require specific employer contributions,