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Retirement Services & Financial Advisors​ - Serving Columbus & Beyond

Don’t Assume Offering a Small Business 401k Is Impossible

Submitted by Life, Inc. Retirement Services on February 2nd, 2018

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Small business owners often find themselves in a difficult position when it comes to offering employee retirement plans. Lack of information and assumption can cost them the opportunity to give their employees the chance to have a valuable benefit that could end up serving the needs of the business quite well.

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401k Plans for Small Businesses: Why You Should Start a Small Business Retirement Plan

Submitted by Life, Inc. Retirement Services on January 3rd, 2018

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With people living longer than they used to, it is more important than ever that people start saving for retirement as early as possible. However, many people who work at small businesses do not have access to a 401k plan, as only 15% of businesses with 100 employees or less offer their employees retirement plans, and only 50% of Americans overall have access to a workplace retirement plan. Generally, small business owners do not want to offer a 401k plan due to the time and money they would have to invest to offer these benefits. While this is a valid concern, the fact is that the pros outweigh the cons of offering your employees a 401k plan. Here are just a few of the benefits you could gain by offering a 401k plan to your employees.

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What Does the Proposed Fiduciary Rule Change Mean to Your 401(k) Plan?

Submitted by Life, Inc. Retirement Services on July 28th, 2015

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As is customary with the proposal of any new regulatory rule or provision, the Department of Labor has opened the floor to comments regarding its proposed rule change to extend fiduciary responsibilities to all advisors who work with qualified retirement plans.

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For Smaller Employers: Better to be SAFE than SIMPLE?

Submitted by Life, Inc. Retirement Services on January 17th, 2015

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For businesses with less than 25 employees, the allure of adopting a SIMPLE IRA as their employer-sponsored retirement plan is very tempting. Simple to set up – just set up an IRA for each eligible employee; and there is no administration. The required matching contribution is only 3 percent, and only on actual salary deferrals.

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Safe Harbor 401k Plans Becoming Mainstream for Employers

Submitted by Life, Inc. Retirement Services on January 9th, 2015

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For some time the conventional wisdom has been that adopting 401k plans is too expensive and too cumbersome for the smaller business scale. Chief among the more onerous requirements had been the nondiscrimination compliance testing for contribution and compensation limits.

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​Does Your Plan Sponsor Fidelity Bond Coverage still leave you Vulnerable?

Submitted by Life, Inc. Retirement Services on December 27th, 2014

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Generally, anytime an employee or contractor is hired to a position that handles any aspect of a company’s finances – from cashiers to CFOs – are required to be bonded by their employer. In such cases bonds are purchased as protection against fraud, theft, or other instances of dishonesty that result in financial loss to the company.

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