Small Business - Retirement Plans
As a small business owner, you need to focus on what you do best - run your business. While it is certainly necessary for a small business owner to "wear many hats" to operate the company, it is simply counter-productive, if not impossible, to become an expert in any other area outside of your core business.
Years of experience working with employer-sponsored retirement plans and an intimate knowledge of plan design allows Atlantic Capital Investments, LLC (ACI) to provide its small business clients guidance in selecting the right plan for the client's needs.
Increasingly, employers such as you are recognizing the vital importance of implementing a retirement plan, not only for their own retirement security, but for the benefit of their employees as well. While the traditional "defined benefit" pension plans are slowly but surely becoming extinct and Social Security becomes more of an uncertainty, "defined contribution" or 401(k) and Profit Sharing plans have become an absolute necessity in achieving retirement security for small business owners.
Unfortunately, small business owners are faced with many challenges in starting and maintaining a retirement plan; however, with the right partner and the appropriate plan design, you can achieve a cost-effective means to allow you to maximize contributions toward your retirement while offering a valuable benefit to your employees at the same time:
- Cost: As a small business owner, you are usually focused on making ends meet for your business and may consider a retirement plan too expensive to implement. In fact, there are a number of cost-effective ways for small business owners to implement a plan. Additionally, the potential benefits to you as the owner, as well as your employees, could far outweigh any startup costs.
- Complexity: As a result of the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Pension Protection Act of 2006, a number of retirement plan vehicles and instruments were introduced that greatly benefit small business owners and employer sponsored retirement plans. There are so many retirement plan types and various plan designs today that it can be difficult to navigate the landscape of choices without the aid of a knowledgeable professional.
- Commitment: Small business owners have heard the negative stories about large corporations such as GE or IBM having difficulty meeting their long-term pension obligations. The owners may be nearing retirement and don't want the long-term commitment they believe a retirement plan will entail. Furthermore, many owners do not have the luxury of consistent profitability year after year and need the flexibility of discretionary employer contributions. A well-constructed plan design can help an employer offer a generous plan for his or her employees without the burden of such commitments.
Equally as important as selecting the right plan design, ACI can provide the investments and offer investment advisory services that are absolutely essential to fulfill prudent fiduciary obligations.
Contact Us to request a free Retirement Plan Analysis, which includes cost-benefit analysis, investment review, and plan design assessment