Author: Matt Baisden

2021 Retirement Plan Limits

The IRS announced the new limits for 2021 retirement savings and the amount that 401(k) participants, or participants in similar employer sponsored plans can save is staying the same. Read more…

Own a Business? 3 Reasons 2020 is a Great Year To Review Your 401(k)

2020 has been hard for small businesses; those who remain open have often had to make painful operating decisions for all concerned. Hopefully, your employees understand you’re not taking those decisions lightly. But they can still be frustrating. Read more…

Start Your Company’s 401(k) Plan for 50% Off

For many business owners, starting a 401(k) plan is both expensive and an administrative challenge. 401(k) plans can be a great benefit to your employees, but is it worth it for you and your business? Read more…

Cash Balance Plan Benefits —and Their Trade-offs

As a retirement plan advisor, I help business owners come up with the right mix of benefits to build a secure retirement for themselves and their employees. Yet there are so many options beyond the familiar 401(k) plan that busy owners can struggle to keep all the details straight. One option that Read more…

What Business Owners Should Look for in a 401(k) Advisor

We know business owners don’t start their business to oversee healthcare plans or manage a 401(k) plan. However, benefit plans are necessary to recruit and keep employees, so it’s important to find someone you can trust will help your plan, your employees, and your business. Read more…

The SECURE Act just passed. What is it? How will it affect you? When does it go into effect?

The SECURE Act just became law. The SECURE Act is the largest change to corporate retirement plan laws since the Pension Protection act of 2006, so if you are a business owner, help operate your company’s retirement plan or a CPA there are a lot of changes to be aware of.  Read more…

Small Business Retirement Plan Options

One of the more difficult challenges for small businesses, especially those with less than 5 employees, is finding a cost-effective and manageable retirement plan option. Time spent focusing on a retirement plan is time spent not growing your business. But like healthcare and vacation programs, a Read more…

Are Your Retirement Plan Fees "Prudent and Reasonable"?

In 2006, Jerry Schlichter, a St. Louis plaintiff lawyer, began suing 401(k) fiduciaries.  His contention was that retirement plan fiduciaries were not properly overseeing their plans – particularly the duty to make sure fees were “prudent and reasonable.”  Read more…

Own a Business in Illinois?  You May Be Forced to Start a Retirement Plan

Small businesses are facing big changes in Illinois. In 2015, the Illinois State Legislature’s Secure Choice Act began a series of steps that ultimately led to the creation of a “State Sponsored Retirement Plan.”  Now, small businesses may be forced to become participants in a retirement plan Read more…

3(21) or 3(38): A Guide for Business Owners

Plancorp has worked with many business owners over the years to improve their corporate retirement plans. We have rarely come across a business owner who wanted more liability on their plate. Unfortunately, business owners frequently retain more than their fair share of legal liability—without even Read more…

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