401(k) Plans & Employer Sponsored Retirement
What Is A 401(k) Plan?
A 401(k) is an employer-sponsored savings and investing plan offered by employers that gives employees a tax break on money they set aside for retirement. The money is taken out before an employee’s paycheck is taxed and the contributions are invested at the employees direction into one or more funds provided in the plan.
Employers often “match” employee contributions, but are not required to do so. While the investments grow in an employee’s 401k account, they do not pay any taxes on it.
Managing Employer Sponsored Retirement Plans
401(k) and other related plans can be costly to setup, cumbersome to maintain and potentially subject employers to lawsuits if the plan becomes outdated or the investment options are too expensive.
At Miles Brown Asset Management, we are able to help design, implement, and manage corporate retirement plans structured to your specific needs. Choosing us enables your business to:
- Save time and money while giving employees the retirement plan they want.
- Offer participants diversified asset allocation models based on their specific needs.
- Enjoy an easy transition from your existing plan.
- Assist in complying with current and new regulations while helping manage your liability.
These plans enable companies to deliver a truly valuable benefit to their employees by helping participants achieve their retirement goals, all while reducing costs and time spent managing the plan.
Work With A Professional
Because 401k plans are subject to numerous and complex rules, regulations and tax qualification requirements, it’s important to consult with a qualified professional before making any decisions.
To learn more about 401(k) retirement plans and other types of employer-sponsored retirement, please contact us for a complimentary consultation. We look forward to learning more about your business and how we can help create a plan that works for you and your employees.
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