Guest Post: Find the Right Retirement Plan with Riggle Wealth Group

 
 

If you’re like many 401(k) plan sponsors, you feel responsibility for your participants’ financial well-being but may take a hands-off approach to managing your plan design. This is how many plans end up with inadequate employee contributions and neglected.

The right retirement plan through Riggle Wealth Group will help you recruit, retain, and reward employees as well as establish a culture of healthy financial habits within your company. When you put the wellbeing of your employees first, you create more than just a name for your company, you create a legacy.

Let's start with some basic questions...

Is your 401(k) program working for your business? Today, many successful business owners are using advanced retirement strategy designs to manage tax liabilities. For example, a Roth 401(k) paired with a profit-sharing or defined benefit plan gives you the opportunity to:

  • Forego a deduction on Roth 401(k) deferrals in favor of tax-free distributions in retirement

  • Deduct a portion of your current income as profit sharing or defined benefit plan funding

  • Create and grow two contribution buckets, tax-deferred and tax-free, to better manage your tax liabilities as you take withdrawals in retirement

When was the last time you made changes to your 401(k) program? Are you thinking about the following issues*:

  • Should our plan offer our employees more investment choices?

  • How can we make the plan more user-friendly?

  • Is automatic enrollment a good idea?

  • Is there a cheaper plan out there that might be just as good?

  • Are we satisfying the 404(c) employee education requirements?

  • Are we truly meeting our fiduciary responsibility?

  • What steps could we take to try and reduce liability?

  • How does our 401(k) stack up against others in terms of fund quality, costs, and fees?

  • Is there a way we can monitor and evaluate investment performance?

Now is a great time to evaluate your current plan – or search for a new one. At Riggle Wealth Group, my focus is working with employer sponsored retirement plans, business owners, and individuals on investment management, financial and retirement incoming planning. Together, we'll talk through your company's goals, objectives, and workforce so I can help fine-tune your current 401(k) plan or identify a replacement.

Looking forward to connecting with you. Visit contact us to schedule a time to talk or contact me directly at jakelawrence@rigglewealth.com or 717-630-1001.

*Under the SECURE Act, once you reach age 72, you must begin taking required minimum distributions from your 401(k) or other defined-contribution plans in most circumstances. Withdrawals from your 401(k) or other defined-contribution plans taxes as ordinary income and, if taken before age 59½, may be subject to a 10% federal income tax penalty.

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite, LLC, is not affiliated with the named representative, broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security.

About the Author:

Jacob Lawrence, CRPS®

Wealth Management Advisor

Riggle Wealth Group

Hanover Area Chamber of Commerce