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Johnny Khamis - Financial Advisor

Franklin Investments Healthnet Delta Dental Blue Cross of California Blue Shield of Californiaa Kaiser Permanente Lloyd's Hartford Aetna

 

 

 Start a new 401(k) plan

401(k) Benefits

Benefits to Plan Sponsors
  • Part of employee benefit program
  • Attract and keep qualified employees - Employee Retention
  • Supplement Social Security at retirement
  • Provide vehicle for asset accumulation
  • Contributions to the plan are deductible expenses
  • Tax credits for establishment of new plans under EGTRRA
  • More benefits features available in market place today than in prior years
  • Potential payroll and tax savings for sponsors
  • Available vesting program to help motivate and retain employees
Benefits to Participants
  • Accumulate assets for retirement
  • Provide vehicle for Tax-Deferred or Tax-Free growth of assets
  • Ability to make contributions to the plan on a before (traditional) or after (roth) tax basis
  • Flexible Portfolio Construction
      Lifestyle / Risk Based
      Lifecycle / Target Date
      Customized Models
  • Portfolio Rebalancing
  • Online account access
  • Ability to borrow from yourself
  • Ability to withdraw assets without penalty for hardship

Common Questions

How much will it cost?
There are safe harbor plans for small businesses that can be started with as little as $250, but most plans can be administered between $750 to $1500 per year. These expenses are tax deductible.

Do I have to match my employees' contributions?
No. Most 401Ks allow employers the choice to contribute or not to contribute toward their employees' retirement. However, plans that do matching tend to have better participation and employers can maximize their personal savings.

Will this take a lot of time to manage?
Setting up the plan is the most time consuming process. Most administration is now done automatically and contributions are transferred directly to the investment institutions.

 
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