Customizing Your Retirement Plan
There are many ways to customize a retirement plan to meet your organization's unique business needs.
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Add-On Plans
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Roth Contributions
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Employer Contributions
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Plan Parameters
Add-On Plans
Employers can add supplement plansโlike cash balance, ESOP, nonqualified deferred compensation (NQDC) and moreโto help employees save even more for retirement and to increase business tax advantages.
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Roth Contributions
A Roth option allows you and your employees to pay taxes on your retirement savings now, instead of when you take distributions in retirement. Providing a Roth option may reduce the overall taxes paid over the life of the investment and is an important part of a tax diversification strategy.
Employer Contributions
- Match: Incentivizes employees to contribute.
- Safe Harbor: A type of contribution that helps an employer pass compliance testing.
- Profit Sharing: A type of contribution via an add-on plan.
Plan Parameters
There are four main parameters that plan sponsors can designate for their plan.
- Vesting: Decide how quickly your employees fully own employer contributions.
- Automatic Enrollment/Escalation: Determine whether employees will be automatically enrolled in the plan and registered for annual contribution increases.
- Loans: Enable participants to borrow against their vested balance.
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Customize your employer-sponsored retirement plan to meet the unique needs of your business.
- Attract and retain talent
- Increase owner and employee tax savings
- Improve employee participation and savings rates
Contact Us
One of our 401(k) business specialists would love to talk to you about your companyโs retirement plan needs.
Call Us
(844) 238-1247
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