We look forward to talking with with you.
Contact us today!
401(k) Plans allow employees to invest in their retirement accounts, while also providing employers the ability to match a percentage of contributions. PlanPerfect is a premier 401(k) TPA and works with companies of all shapes and sizes.
A 401(k) Plan is an employer-sponsored plan that allows employees to make pre-tax contributions to their accounts. Plan contributions are made through payroll deductions. The maximum an employee can contribute to a 401(k) plan in 2019 is $19,000. This limit is adjusted each by the IRS and is often referred to as a “Cost of Living Adjustment.” Participants over the age of 50 can make “catch up” contributions to a 401(k). For 2019, the catch-up amount is $6,000 (in addition to the $19,000).
401(k) plans must satisfy strict IRS ratio and compliance testing. These tests ensure the Plan benefits all employees in a nondiscriminatory manner.
Beyond the portability of benefits, the following are some pros of adopting a Cash Balance Plan:
As your third party administrator, PlanPerfect will work with you to discover the best retirement plan set up for your business.
Finding the right 401(k) TPA is important for your business. PlanPerfect works with companies of all shapes and sizes. Explore our services and contact us today for a free consultation!