Author: Matt Baisden

Small Business 401(k) Retirement Plans - Safe Harbor Match vs. Safe Harbor Non-Elective

For a myriad of reasons – from automatically passing ADP testing, helping with Top-Heavy failures, or owners saving $60,000+, many businesses choose to use a Safe Harbor formula in their 401(k) retirement plan. Let’s find out what the Safe Harbor formulas are and why you may choose one over the Read more…

Mega Backdoor Roth? Probably Not for Small Business Owners.

I’ve read the articles and maybe you have too; articles about Mega Backdoor Roths (MBRs) that promise a lot – but maybe don’t explain all the issues they may cause for certain businesses or people. In this article, I'm going to review what a MBR is, how it works, and while it may be good choice for Read more…

Learn How Business Owners Can Save More Than $60,000 a Year Into Their 401(k)

For many people, the question “How much can I save into my 401(k)?” has a simple answer. If you are under age 50 in 2021 you can save $19,500 into your 401(k). If you are over 50 you can save $26,000. Read more…

Why Am I Getting Refunds From My 401(k)?

If you are an executive or business owner, you may have received a refund from your 401(k). That can be a frustrating experience. What you thought was tax-deferred savings is now taxable income. So why are you getting refunds and is there anything you can do about it? Read more…

My 401(k) failed the Top-Heavy test. Now what?

What is the top-heavy test? 401(k) plans must be tested annually to determine if they are top-heavy. The top-heavy test compares the account balances of “key employees” to those of “non-key employees.” If the sum of all key employee balances exceeds 60% of the total plan balance the plan is Read more…

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…

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