Business 401(k)s

As a business owner, you’ve likely already heard about the Secure Act requiring all businesses with 25 or more people to offer some type of retirement plan for their employees. This mandate not only addresses the coverage gap in our country but also presents significant benefits for businesses, regardless of their size.

Implementing a retirement plan serves as an attractive incentive for potential employees and fosters a culture of contentment among existing staff, leading to increased efficiency and retention rates. Moreover, it offers business owners the opportunity to enhance their personal retirement savings, acknowledging their role as employees within their own companies.

While the prospect of initiating a retirement plan may seem daunting, Rabadeau Wealth Group is here to help streamline the process. With years of experience assisting business owners, we act as your quarterback, orchestrating the collaboration between various partners and components necessary for a successful retirement plan.

Our services extend beyond mere facilitation; we connect you with trusted Third-Party Administrators (TPAs) and record keepers to design and manage the plan while providing ongoing investment management. Through active participation in all meetings, we help ensure that the plan aligns with your objectives and remains on track for long-term success.

For businesses exploring their options, a SEP-IRA serves as an excellent choice, particularly for smaller companies. Alternatively, the SIMPLE IRA offers a step up in benefits, with employer contributions contingent upon employee participation.

If your business already offers a 401(k) plan, you’re ahead of the curve. However, it’s essential to regularly review and possibly update these plans to ensure their continued effectiveness. At Rabadeau Wealth Group, we understand the complexities involved and are dedicated to alleviating your concerns.

Let us guide you through the intricacies of the Secure Act and help you optimize your retirement plan. Give Rabadeau Wealth Group a call today to discuss the best options for your business’s financial future.

Any opinions are those of Christopher Devine and not necessarily those of Raymond James. Investing involves risk and investors may incur a profit or a loss. 401(k) plans are long-term retirement savings vehicles. Withdrawal of pre-tax contributions and/or earnings will be subject to ordinary income tax and, if taken prior to age 59 1/2, may be subject to a 10% federal tax penalty. Raymond James does not provide tax or legal services. Please discuss these matters with the appropriate professional.

Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC. Investment advisory services are offered through Raymond James Financial Services Advisors, Inc. Rabadeau Wealth Group is not a registered broker/dealer and is independent of Raymond James Financial Services.