A qualified retirement plan is a most valuable benefit for both the employer and the employees. In a competitive labor market, a retirement plan is key in attracting quality employees and in enhancing loyalty and longevity.

Below are some common questions that employers ask when
we design a plan:

• Can we implement a plan if we have large profit swings from year to year?
• Must we include seasonal and part-time employees in the plan?
• What is the maximum annual contribution we can make?
• Who will help us choose the appropriate investments to comply with regulations?
• How much time and money will we spend on administration and compliance?

Plan design options have greatly increased over the past several years with the addition of the SIMPLE-IRA and Safe Harbor 401(k) to the more traditional 401(k) profit sharing, SEP-IRA, 403(b) and pension plans. The changes reflect the government’s desire to encourage small businesses to implement retirement plans for the benefit of both owners and employees. The trend is to make retirement plans easier and

more cost-effective to administer.

There are many factors involved in the selection of the optimal plan type and the specific provisions for your company:

• Your workforce – employees’ ages, incomes, job classifications, years of service and turnover
• Profitability (past and future)
• Affiliated companies (who needs to be included)
• Employer’s annual contributions (past and future)
• Costs of the plan

We provide you with a comparison of several alternative plans illustrating the benefits and costs of each option to help you make an informed decision. Once you have selected a retirement plan, we will coordinate all the efforts necessary to get the plan up and running, including all necessary documentation, investment selection, record-keeping, administration and enrollment.

Communication with the employees is critical for them to understand the plan benefits, elections they must make for contribution amounts and investment allocations and beneficiary designations. Increased employee education translates to better plan participation. That is why we are committed to conducting open enrollment meetings twice each year and ask you to be equally committed. We also meet with the plan trustee to review the plan design and answer any questions.

Securities are offered through Walnut Street Securities, Inc., Member FINRA, SIPC. Lang Financial Group is not affiliated with Walnut Street Securities.

At Lang Financial, our hallmark is to answer your questions, help you explore your options and assist you in making the right decision.
Contact us.