401k Simple Plans For Small Business and Individuals

401k Simple Plans For Small Business and Individuals

fidelity 401k

roth 401k

fee only investment advisor

fee only financial advisors

retirement planning

group 401k plans

retirement planning

Our 401(k) plans have the following features that make our plans truly unique and industry leading: 1. Customized Investment Policy Statement (IPS) that defines the investment strategies utilized in the plan and forms the documentation required to support your fiduciary investment decisions. A low cost 401(k) plan for the self- employed can be set up with the same contribution limits as group plans. This increases the deferral amounts that a self-employed owner can contribute over and above IRAs. They are structured to minimize the administration costs of 401 (k) plans. Upon termination these funds can be rolled into IRAs. A profit sharing plan is funded by your employer with employee contributions usually optional. Upon your retirement, you will normally receive your benefit as a lump sum that can be rolled over into an IRA. The company's contributions usually depend on the company's profits. If a profit-sharing plan is set up as a 401(k) plan, employee contributions may be tax deductible. Plan sponsors have fiduciary responsibilities to manage costs and provide appropriate investment choices for their plan participants. A defined benefit plan normally provides a specific monthly benefit from the time you retire until you die. This monthly benefit is usually a percentage of your final salary multiplied by the number of years you?e been with the company. Defined benefit plans are usually funded completely by your employer. Traditionally these plans were usually only offered by large companies. Today, they can be a great source of retirement funding for successful small business owners because owners over the age of 45 can contribute in excess of $100,000 tax deferred each year. In Employee stock ownership plans (ESOP), an employer periodically contributes company stock toward an employee's retirement plan. Upon retirement, employee stock ownership plans may provide a single payment of stock shares. ESOPs provide a great way for owners to transfer the ownership of the company to its managers over time. They often provide a method for the owner to diversify his wealth prior to retirement or business exit. The IRS imposes several 401k contribution limit guidelines on the amount that can be contributed to your 401k plans in a year. 401k plans allow you to make annual pre-tax contributions of up to $14,000 (in 2005). The contribution limit will increase to $15,000 in 2006. Those 50 and older can make pre-tax contributions of $18,000. Profit Sharing/Employer match can increase tax-deferred 401k contributions up to $42,000 ($46,000 for those 50 and older). Our Solo 401(k) plans have the following features that make our plans truly unique and industry leading: 1. Customized Investment Policy Statement (IPS) that defines the investment strategies utilized in the plan and forms the documentation required to support your fiduciary investment decisions. 2. Diversified investment portfolio choices with long-term industry leading performance records for you so that you can chose proper investments based on your risk tolerance. 3. Institutional Fund choices that have investment costs that average only .40% or 40 basis points of cost or less for each diversified portfolio. 4. Full unbundled fee disclosure from fee-only CFP¨ advisors that receive no compensation from any providers of the plan. 5. Industry leading 3rd Party Administrators for insuring the plan is compliant with all requirements and that you receive top service. 6. Advisors that design and implement a plan that is best for you as a plan sponsor. Plan sponsors should not be fooled by low cost offers for 401(k) plans. Many bundled plan offers show below market administration fees, which are more than made up for with high investment costs or other hidden fees and expenses. These offers place you appear cheaper but actually are far more expensive in the long run. Let us help you find the best retirement plan: Individual 401k for those who are self-employed and/or business owners without full-time employees. Annual tax-deferred maximum contributions is $42,000 of which $14,000 is salary deferral ($46,000 and $18,000 respectively if age 50 and over. The ability to increase the tax deferral amounts above the IRA limits makes these very attractive plans.
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