Starting a 401(k) plan for your small business

Posted Leave a commentPosted in 401(k)

This post covers the planning steps required to help ensure the launch of a successful small business 401(k) plan. Planning First, consider whether you really want a 401(k) plan. It seems that every small business likes the idea of a 401(k) plan until they fully consider the cost, administrative requirements and restrictions placed on higher […]

Clear explanation that there are no “1099 employees”

Posted 1 CommentPosted in 401(k), Accounting, Employee Benefits, Small Business, Taxes

I like this clear simple language in Employee Benefit News: “Employers face an uphill battle in classifying a worker as an independent contractor due to DOL guidance that defines ‘employee’ so broadly that such a classification should only be reserved for a narrow subset of workers.” It is amazing how many employers are oblivious of […]

How to fix your small business 401(k)

Posted Leave a commentPosted in 401(k), Financial Planning, News and Politics, Retirement, Small Business

This week President Obama’s administration gave a strong endorsement of the Department of Labor’s plan to impose fiduciary obligations on investment brokers and advisors working with retirement plans. The controversial proposal is based on a belief that new rules are a needed consumer protection to prevent billions in costs due to bad advice. Most consumer advocates […]