Stonnington Group, LLC provides fiduciary consultation with businesses to provide and implement retirement benefits programs including 401(k), 403(b), profit sharing, and defined benefit plans.
Benefits Plan Solutions for Business Owners
One of the most popular types of employer-sponsored retirement plans. With this plan, an employee can invest a portion of his or her earnings before taxes are taken out. The funds in the employee’s 401(k) plan can be invested in mutual funds, stocks, bonds, or other assets. Some employers offer to match their workers’ contributions as a means to improve employee retention and motivation.
This is a tax-deferred retirement plan retirement plan for qualified employees of tax-exempt organizations and public schools such as teachers, doctors, and ministers. It allows employees to make salary deferral contributions up to regulatory limits, and earnings are tax-deferred until they are withdrawn.
Under a profit-sharing plan, employees get a percentage of the company’s profits based on annual or quarterly earnings. The business decides the amount to be allocated.
Under this plan, an employee’s benefits are computed according to deciding factors. This plan may be paid in lump-sum or monthly payments.
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Each type of benefit program has distinct advantages.
Let us help you choose and implement the right retirement plan for your business’ goals.
Get in touch with us today to schedule a consultation.