Compliance Made Simple: Avoid Retirement Plan Pitfalls Retirement plans are an essential benefit for employees, but ensuring compliance with regulations can be a significant challenge for employers. Navigating rules set by ERISA, the Department of Labor (DOL), and the IRS is critical to avoid costly penalties and maintain a plan that truly benefits your workforce. […]
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Unlock Financial Freedom: Cost-Benefit Analysis of Different Retirement Plans Part 2 In the first part of this series, we explored the benefits and costs of 401(k) plans and SEP IRAs—two of the most popular retirement plan options for business owners. In this second part, we’ll dive into SIMPLE IRAs and other retirement plan strategies
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Unlock Financial Freedom: Cost-Benefit Analysis of Different Retirement Plans Part 1 When it comes to offering retirement plans, business owners have a wide range of options. The right plan help your employees save for their futures, while also benefiting your company by improving employee retention, enhancing your company culture, and maximizing tax advantages. But
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Retirement Options In Depth: 401(k), SEP IRA, and SIMPLE IRA Among the most popular choices for retirement benefits are the 401(k), SEP IRA (Simplified Employee Pension), and SIMPLE IRA (Savings Incentive Match Plan for Employees). Choosing the right plan can significantly impact both your business and your employees’ financial well-being. In this article, we’ll
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401(k) Strategies That Help Small Businesses Compete Like Big Players Small business owners often face challenges when competing with large corporations for top talent. One area where small businesses can excel is by offering competitive 401(k) plans. Retirement benefits, once seen as exclusive to big businesses, are now accessible and affordable for smaller enterprises.
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ERISA and the SECURE Act Explained: Build a Better Retirement Plan Offering a robust retirement plan is one of the best ways to support your employees and secure their long-term financial well-being. However, understanding the regulations behind these plans is essential to avoid compliance issues and maximize their benefits. Two critical pieces of legislation—the
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Retire Richer and Faster: 6 Effective Strategies for Accelerating Retirement Savings For business owners who want to add real value through retirement plans, exploring ways to accelerate savings is essential. Retirement strategies like auto-increase features and catch-up contributions not only help employees build wealth faster but also demonstrate your commitment to their financial futures.
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Part 1: What Are Affordable 401(k) Retirement Options? In today’s competitive job market, offering a robust 401(k) retirement plan can help set your business apart. However, for many business owners, the perceived high cost and complexity of these plans can feel like a barrier. At Maxus Plan Solutions, we’re here to break down those
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The Secret Weapon for Employee Retention: Your Retirement Plan Let’s talk about something crucial to your company’s success: keeping your best employees. We all know the frustration—you invest time and resources in finding the perfect fit, only to see them leave after a few years. It’s costly, disruptive, and damages the team dynamic you’ve
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A Year in Review: Key Trends in 401(k) and Retirement Plans for 2024 As we navigate 2024, and look ahead to 2025, the retirement planning landscape continues to evolve, shaped by regulatory updates, shifting employee expectations, and technological advancements. For business owners, staying ahead of these trends is essential—not only to remain compliant but
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Maxus Plan Solutions is a North Carolina-based third party administrator for qualified retirement plans dedicated to high standards and efficiency.
