State Retirement Plans: Is Your Business Ready? As retirement savings become a growing priority for governments and employees, state-sponsored retirement programs are gaining traction across the U.S. These initiatives aim to address gaps in retirement savings access but also present challenges for business owners. While they may simplify the process, they lack the flexibility […]
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A Year in Review: Key Trends in 401(k) and Retirement Plans for 2024 As we navigate 2024, 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 also to attract and retain
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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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Part 3: Why 401(k) Plans Are a Long-Term Investment in Your Business’s Success In Part 1, we introduced state-required retirement plans and discussed their limitations. In Part 2, we highlighted the many advantages of transitioning to a 401(k) and how Maxus Plan Solutions can help make that transition seamless. Now, in Part 3, we’ll
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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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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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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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Maxus Plan Solutions is a North Carolina-based third party administrator for qualified retirement plans dedicated to high standards and efficiency.
