A 401(k) is an employer-sponsored retirement saving and investment plan. Employees who contribute to a 401(k) plan receive a financial tax deduction on their contributions. Contributions are deducted automatically from employee paychecks and invested in funds selected by the employee from a list of available offerings. At Retirement Actuarial Services, we offer the best 401k plans for small businesses. As per a rough estimation, by the time you reach the age of 40, you should have accumulated three times your annual pay. By the age of 50, you will have acquired six times your income; by the age of 60, you will have earned eight times your salary; by the age of 67, you will have made ten times your salary.
Retirement Actuarial Designer 401(K) Plans are the best of both worlds for retirement planning. Combining the immense benefit and tax deduction provided by a defined benefit plan with the portability and flexibility of a defined contribution plan. The retirement actuarial services designer 401(k) plans solution may be a customized defined benefit plan referred to as a cash balance plan, combined with a 401k/Profit Sharing Plan and a unique tax-free medical reimbursement plan.
At Retirement Actuarial Services, our group of experienced professionals in Qualified Retirement and Tax-saving strategies are always there for your corporate needs. Our mission is to provide the best 401k plans for small businesses with personalized retirement planning and excellent customer service. We partner with your tax advisor to put together a team that understands how to design, implement, and sustain effective wealth-creating tactics large businesses use.
Everybody knows the value of a 401(k) plan. Employees benefit from company match initiatives and vesting options, making them a no-brainer. However, did you know that an employer-sponsored 401k advantages the employer as well? If you’re considering offering retirement benefits to your employees, you can ponder over these benefits you will receive when you collaborate with retirement actuarial services designer 401(k) plans.
Few Plan Highlights:
- Large tax-deductible contributions of $75,000 – $500,000 or more in a single year
- The employer receives on average over 96% of the tax-deductible contributions
- Creditor protection under ERISA
- Tax-Free Post-Retirement Medical Reimbursement Benefits
- Highly flexible contributions that may adjust to your company cash flow
Our retirement actuarial designer 401(k) plans offer the employer incredible tax perks. Employers might benefit from 401k schemes in terms of tax savings. We provide tax deductions for matched contributions and administrative work related to the benefits plan. Moreover, using retirement perks as incentives is also an option for employers. Many companies reward their employees for meeting specific targets by increasing their 401k contributions if they hit these benchmarks. You may leverage your benefits system to motivate your employees, which in turn helps your company succeed.
If the company’s cash flow is weak, the annual contribution sum can be reduced to match corporate resources. Contributions can range from $75,000 to $500,000 annually. Small business owners can save a significant amount of money on taxes while simultaneously developing a multimillion-dollar retirement account by merging a cash balance plan with the mobility and flexibility of a defined contribution plan. With this method, you can rest assured that your company gets the greatest possible plan.
A company-wide 401(k) plan reduces your taxable income, so what are you waiting for? Get in touch with us, and we will provide the best of our services.
Designer 401k + ™ is the ideal plan for:
- Independent Contractors
- Real Estate Agents
- Software Engineer
- Sports & Entertainment
- Small business owners
If you reach out to Retirement Actuarial Services, a well-thought-out 401(k) plan may do wonders for your business. The value of 401(k) employer benefits extends from small firms to major corporations.
- How much do retirement actuaries make?
Across the United States, the national average compensation for a Retirement Actuarial Consultant is $123,299 per year. To discover Retirement Actuarial Consultant salaries in your area, you may use various research platforms or get in touch with our experienced support teams. Professionals with 1-4 years of experience can expect to earn an annual salary of $74,969 in the United States. Actuaries make an average salary of $120,494 per year after working for 10 to 19 years in the field.
- Is being an actuary worth it?
Yes! It is, in fact, a highly regarded position. Aside from being well-paying employment, being an actuary allows you to maintain a healthy work-life balance. Also, because you can address problems, it is a very satisfying work that contributes to the community’s well-being. Actuaries frequently put in at least 40 hours every week. Often, certain actuaries, specifically those in the consulting industry, may travel to meet with clients.
- What does an actuary do for a pension plan?
Most actuaries are today best recognized for their work in the insurance and pension industries, where they develop financially sound benefit plans to protect people’s financial well-being. Accurate risk assessment is done by an actuary, who helps develop these plans and evaluate the financial risk a firm takes when it sells an insurance policy and offers a pension plan. The responsibilities of actuaries are extensive. Actuaries must first ensure that there is sufficient cash on hand to settle claims on insurance policies or pension plan income. In addition, the actuary is responsible for ensuring that participants in these schemes are paying a reasonable fee.
- Do defined contribution schemes need an actuary?
In general, if you have a Defined Benefit Plan or a Cash Balance Plan, you will need the services of an actuary. In the financial, economic, and other business applications of future occurrences, actuaries are problem solvers who employ actuarial science to define, analyze, and solve the financial, economic, and other business applications of future events. The goal of actuaries is to assist their clients in saving enough money to be able to pay their pensions on time. This necessitates educating people on the risks associated with investing and developing techniques to improve the value of their investment.