Comprehensive retirement plan solutions for businesses of all sizes.
Offering a retirement plan is one of the most valuable benefits you can provide to your employees. At Vincent D. Jacobs Wealth Management, we understand that implementing and managing a retirement plan for your business involves many considerations, from plan design and investment selection to regulatory compliance and employee education.
We work with businesses of all sizes to design and implement retirement plans that align with their goals, whether that's attracting and retaining talent, maximizing tax benefits, or providing for the retirement security of owners and employees. Our comprehensive approach ensures that your retirement plan not only meets regulatory requirements but also serves the needs of your business and employees.
We provide end-to-end support for your business retirement plan, including:
Finding the right retirement plan for your business.
A 401(k) plan is a qualified retirement plan that allows employees to contribute a portion of their wages to individual accounts. These plans are popular among businesses of all sizes due to their flexibility and features.
Businesses of all sizes that want to offer a comprehensive retirement benefit with flexibility in plan design and contribution options.
A Safe Harbor 401(k) is a type of 401(k) plan that automatically passes certain non-discrimination tests by meeting specific contribution and vesting requirements.
Businesses where owners or highly compensated employees want to maximize their contributions without being limited by non-discrimination testing, and that are willing to make mandatory employer contributions.
A Simplified Employee Pension (SEP) IRA is a retirement plan that allows employers to make contributions to their employees' IRAs. It's known for its simplicity and ease of administration.
Self-employed individuals, small business owners with few employees, and businesses looking for a simple plan with minimal administrative requirements and flexibility in making contributions.
A Savings Incentive Match Plan for Employees (SIMPLE) IRA is designed for small businesses with 100 or fewer employees. It offers a simplified way to provide a retirement benefit with lower administrative costs than a 401(k).
Small businesses with 100 or fewer employees that want to offer a retirement plan with employee contributions but with simpler administration than a 401(k).
A Solo 401(k), also known as an Individual 401(k) or Self-Employed 401(k), is designed specifically for business owners with no employees other than themselves and their spouses.
Self-employed individuals or business owners with no employees (other than a spouse) who want to maximize their retirement savings.
A Defined Benefit Plan, often referred to as a traditional pension plan, provides a specified benefit amount at retirement based on a formula that typically considers years of service and compensation.
Established businesses with stable cash flow, particularly those with older owners who want to maximize tax-deductible contributions in the years leading up to retirement.
A Cash Balance Plan is a type of defined benefit plan that combines features of both defined benefit and defined contribution plans. Each participant has an individual account that grows with contribution credits and interest credits.
Professional service firms and businesses with consistent cash flow where owners or key employees are looking to maximize tax-deductible retirement contributions.
Specialized retirement solutions for key employees.
In addition to qualified retirement plans for all employees, many businesses offer supplemental retirement benefits to attract, retain, and reward key executives and highly compensated employees. These non-qualified plans can provide additional retirement income beyond what is possible through qualified plans alone.
At Vincent D. Jacobs Wealth Management, we can help you design and implement executive benefit programs that align with your business objectives and provide meaningful benefits to your key employees.
Nonqualified Deferred Compensation (NQDC) plans allow executives to defer a portion of their compensation until a future date, typically retirement. These plans are not subject to the contribution limits and non-discrimination testing of qualified plans.
A Supplemental Executive Retirement Plan (SERP) is a non-qualified retirement plan that provides additional retirement benefits to key executives. Unlike deferred compensation plans, SERPs are typically funded entirely by the employer.
Executive Bonus Plans, often implemented using life insurance, provide a simple way for employers to offer additional benefits to key employees. The employer pays a bonus to the executive, which is then used to purchase a life insurance policy owned by the executive.
Split-Dollar Life Insurance is an arrangement where the employer and executive share the costs and benefits of a life insurance policy. These arrangements can be structured in various ways to meet specific objectives.
Let us help you design and implement retirement plan solutions that meet the needs of your business and employees. Contact us today to schedule a consultation.
Contact Us