401(k)
Denver business owners know that 401(k) plans can help to recruit and retain good employees. Now you can easily and cost effectively offer a 401(k) plan through Sharkey, Howes & Javer. Using the telephone and technology, the SHJ401k platform allows business owners to create a 401(k) plan in as little as 30 minutes.
www.SHJ401k.com is an easy to use Internet-based platfrom to maximize the value of your retirement savings with popular no-load, load-waived and institutional-class mutual funds and a low-cost annual fee structure. The SHJ401k platform offers access to experienced retirement specialists, to provide real time answers to real life questions. From 24/7 Internet-connectivity and interactive voice response systems to toll-free administrator assistance, SHJ 401k is always at your fingertips. SHJ 401k provides professional investment-advisory services and access to experienced retirement plan specialists to provide a comprehensive retirement planning and savings solution. From selecting and managing your plans' investments to coordinating interaction between employers and employees,
www.SHJ401k.com is your all-in-one solution.
Your employees can make tax deductible contributions to the plan and your business gets the tax benefits. 401k plans must be established by December 31st (or by your fiscal year-end). Employees may contribute up to $15,500 from their salary or $20,500 if age 50 or older. As an employer, you may make a matching contribution or profit sharing contribution - up to 25% of compensation up to a maximum of $46,000 ($51,000 for employees age 50 or older).
While a bit more complex, 401k plans offer higher contribution limits than SIMPLE plans and IRAs, allowing your employees to potentially accumulate greater savings. As an employer, you may combine profit-sharing contributions with 401k contributions (and matching contributions) if desired. The amount of these contributions is often set as a percentage of you employees' pay; however, as the employer you can typically change the percentage or amount from year to year. Contact Scott Brookes, AIF®, for more information.
Back to Business Retirement and Planning