Author: Matt Baisden

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. What is it? How will it affect you?

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…

The Top Five Benefits of Investing in a 401(k)

On average, Social Security replaces around 40% of income for retirees, and even less for high earners. So unless you’ve got a cushy pension lined up, that means the majority of your retirement income will be a result of your own planning and investing. Enter the glory of the 401(k). Read more…

The Most Common 401 (k) Mistakes People Make- And How to Fix Them

As a Retirement Plan Advisor for Plancorp, I spend a lot of my days talking to retirement plan participants about their 401(k) plans. In conversations and presentations, I get to educate participants to help them get the most of their retirement savings. Read more…

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