SEP vs. 401k Updated

The SEP IRA and the Individual 401k are two of the most common retirement plans for successful self-employed individuals and owner/spouse businesses, since they offer high contribution limits and flexible annual contributions. But which is right for you—the SEP or 401k? That depends on how much you want to shelter for retirement each year. In a nutshell: the 401k allows greater retirement contributions, but it...

Combo Plans: The Perfect Retirement Plan for Your Business

Retirement plans fall into one of two categories: Defined Contribution Plans and Defined Benefit Pension Plans. Defined Contribution Plans, also known as retirement savings programs, cover a broad range of programs such as Profit Sharing and 401k plans. These types of programs allow owners and employees to make contributions that are allocated to individual participant accounts. They generally favor younger...

How PlanPerfect’s Open Fund Architecture Can Benefit You

A recent study shows that most people are completely unaware of the hidden fees and expenses that are charged within their retirement plan. Since 2009, the Federal government mandates that all plans are required to disclose these “hidden” fees. With an Open Architecture 401k platform, all fees are already transparent. In addition, the Plan Sponsor (the business owner) has the freedom to select from the...

You Might Have a “Retirement Plan from Hell”

Money & Investing Retirement Plans From Hell Scott Woolley, 06.24.09, 06:00 PM EDT Forbes Magazine dated July 13, 2009 Insurance salesmen have stuffed thousands of 401(k) plans into high-cost “group annuities.” Early this year the woman overseeing the 401(k) plan for a rural Oregon company gathered her 25 colleagues together to hold an election. At stake: whether to continue paying AIG an annual...

The Facts about Revenue Sharing

Revenue Sharing: What you should know What is revenue sharing? Some call it “hidden fees.” Others, “indirect payments.” Revenue sharing refers collectively to fees that service providers (insurance companies, payroll providers, banks, brokerage houses, mutual funds) charge to plan sponsors and participants. These fees can be so complex and “under the radar” that many sponsors do not understand their...