401k Planning

Whether you are a sole proprietor, small LLC, or growing enterprise, establishing a 401k or other retirement plan for your business has never been easier. Wealth Watch Advisors has developed strategic relationships with industry leading TPA’s (Third Party Administrators) such as 401go, American Trust and PCS Capital to offer simple 401k set-up and administration.

 

Offering some form of retirement plan for your business brings many benefits, both to your employees and you personally.

 

Consider these advantages:

  • • Realize potential tax savings Thanks to the Secure Act, eligible small business that start a new 401k and/or add an auto-enrollment feature to their existing 401k, may receive up to a $500 tax credit during the first three years of the plan. Additional tax savings may be available if the employer matches employee contributions.
  • • Attract and retain talent The labor market has become more competitive in recent years. Increasingly, potential candidates are looking for retirement plans as a benefit in addition to competitive salaries, health insurance and other perks. Studies have shown that defined contribution plans such as a 401k can also increase employee retention.
  • • Improve retirement readiness Financially prepared employees are more likely to leave the workforce at retirement age, and this creates growth opportunities for other staff.
  • • Enhance productivity through financial wellness Studies have shown that employees who feel secure about their financial future, tend to be less stressed and therefore more productive at work. Having a solid retirement plan in place one of the best ways to create this level of security. Additionally, most TPA’s offer “financial wellness” software tools to complement the company’s 401k.

A simple Solution to

Offering Retirement Plans

Often times, we speak with business owners who would like to offer a retirement plan to their employees, but are worried that it will be too time-consuming or costly.  The reality is that these concerns have been overcome with industry advances. 

  • • Fast 401k setups Establishing a 401k has never been easier. It’s true that in the past, setting up a 401k has been tedious and time consuming, but thanks to technology and automation most small business owners can establish their plan in less than 30 minutes. This also applies to take-over 401k’s.
  • • No administrative burden For most small business owners, we can minimize or eliminate administrative burdens by automating processes and integrating seamlessly with payroll. This can greatly reduce the time spent on clerical work. Additionally, the process for participants to enroll in the 401k is one hundred percent automated and streamlined.
  • • Low-cost set up and administration Establishing a 401k is not only quick and simple, but it can also be extremely cost effective. Many small business plans can be set up with little to no up-front charges and minimal monthly recurring fees per participant. Regardless of the size of your business, pricing should no longer an obstacle to establish a competitive retirement plan for your employees.

Take the first step and establish

A 401k Plan Today

Wealth Watch Advisors would like to help you establish a retirement plan for your business or enhance what you may already have.  The first step is easy, simply click the button to be connected with one of our Advisors in your area. There is no cost for them to evaluate your situation and recommend a solution that will bring great value to your business and employees.

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