High-net-worth investors often have no shortage of opportunities to grow wealth. Between index funds, mutual funds, private equity, and alternative strategies, it’s easy to view a traditional retirement plan like a 401(k) as too basic—or too limiting. Read more…
What to Look for to Improve Your 401(K) in 2025
As another year begins, there is a lot on business owners' minds. How do I keep my best employees? How do I reduce business expenses? Now is a great time to assess portions of your business. Is there a better, cheaper, way to do something? Is there a way to make your team's life easier? Read more…
Why Am I Getting Refunds From My 401(k)?
The Short Answer: Why am I getting refunds from my 401(k)? You’re likely receiving a 401(k) refund because your plan failed IRS nondiscrimination testing—most often the ADP test. When highly compensated employees save at higher rates than the rest of the workforce, the plan must return “excess Read more…
Deferred Compensation: What It Is and How It Compares to a 401K
Saving enough for a comfortable retirement in a way that is tax-advantaged can require getting creative at times. Numerous options exist for stashing your discretionary money in a retirement account, but not all options are created equal, nor are they taxed the same. An often-overlooked option, Read more…
Learn How Business Owners Can Save $75,000 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 2024 you can save $23,000 into your 401(k). If you are over 50 you can save $30,500. Read more…
Maxed-Out 401k: Your Next Steps and Strategies
Congratulations! You have successfully reached a significant financial milestone that many aspire to but few achieve: a maxed-out 401(k). This is a great achievement on your journey toward a secure retirement plan and should be celebrated. 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…
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 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…
3 Times You Shouldn't Roll over Your 401(k)
Financial advisors are quick to encourage individuals transitioning into new jobs or who are near retirement to roll their 401(k) account into an IRA. But is a rollover always your best option? While it’s a popular move, that doesn’t mean it automatically makes sense for everyone. Read more…
