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    4 Replies Latest reply on Nov 11, 2010 11:37 AM by grega1

    Retirement Planning for employees

    mydeals Newbie

      I have a small chain of three retail stores, and currently hire 20 employees. I want to offer retirement benefits to my emplyees.
      Who offers the best deal in the market for my size of company?
      What would be the best way to set it up?
        • Re: Retirement Planning for employees
          jodiedental Newbie
          Before deciding on which type of retirement plan might be best to consider how much you as the owner want to save for your retirement. If your not interested in saving at least $16,500 for your self (assuming you have income above $16,500 to support a deferral for your self) you might want to look at a Simple IRA. If interested in deferring $16,500 for yourself - you might want to entertain a safe harbor plan. I know that the Retirement Advantage has very competive fees for plan administration for safe harbor plans. Also best to work with a financial professional wo works with reitrement plans.

          • Re: Retirement Planning for employees
            bm911tax Adventurer
            Its good that you are thinking about it, but you definitely need to get an accountant that deals with small business retirement plans. He/she will guide you through the whole process. Try not to look for the
            "best deal", there is no such a thing in retirement plans. Once you have the plan setup you can then talk to an investment advisor to help implement the plan for you and your employees. Good luck, you are on the right track.
            • Re: Retirement Planning for employees
              grega1 Newbie
              Hi Mydeals,

              I setup inexpensive 401k plans all of the time for businesses like yours, and no you don't have to give a match. You can offer one in the future if the company is more profitable. Call me at 800-241-7258 ext. 1074 to discuss further or e-mail me direct at . There are tax credits to help offset the costs of setting up a new plan for the frist few years as well.




              Greg Albright


              Financial Advisor, UBS Wealth Management Group




              Check out my webpage at: