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Retirement Plans

401(k) Employee Benefit Plans

In today’s financial landscape, many employees are struggling to get by and even spend money before they have it.  Sponsoring a retirement plan is a great way to help your employees build financial wealth and feel financially secure, while also offering you tax advantages.  They are also a great way to attract top talent, as surveys consistently show that employee retirement plans rank among the most desired benefits.  As a full-service benefit firm, ABA will simplify the process of setting up your 401(k) plan and continue through with follow-up service, compliance and other functions and requirements associated with your retirement benefit plan.

Plan qualifications

Non-discrimination testing

Form filings and annual reporting

Prepare benefit statements

Handle plan terminations

And more

More On 401(k) Plans

401(k) Types
  • Traditional
  • Safe Habor
  • Profit Sharing
  • Roth
Advantages
  • Convenient, pre-taxed payroll deductions
  • May be able to borrow against savings
  • Employers can match contributions
  • Employer contributions are tax deductible
How They Work
  • The employee determines a set amount to have set aside into his or her 401(k) account.
  • The employer usually offers a variety of different investment options (stocks, bonds, money market investments, or a mix of these), in which the employee will choose from to fund the account.
  • While there are annual contribution limits, the employer may choose to match a portion of the employee’s contribution.

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