State Required 401(k) Plans: Part 2
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State Required 401(k) Plans: Part 1
Part 1: Understanding of State-Required 401(k) Plans-What you need to know As a business owner, providing a retirement plan for your employees is no longer just a trend—it’s becoming a necessity. In response to the growing retirement savings gap, several states have introduced mandatory retirement plans that require businesses of a certain size to
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Avoiding Compliance Pitfalls in Retirement Plans
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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Cost-Benefit Analysis of Different Plans: Part 2
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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Cost-Benefit Analysis of Different Plans: Part 1
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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Comparing 401(k), SEP IRA, and SIMPLE IRA
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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Small Business 401(k) vs Big Businesses
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
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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Accelerated Retirement Savings Strategies
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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Affordable Retirement Plan Options
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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