Successful business executives have always known how very important sponsoring quality retirement plans and employee benefits are to their continued success. Now the pot has been considerably sweetened. Contribution limits have been increased and will continue to increase in the foreseeable future. Less expensive and more creative ideas have been approved. Even the maximum targeted benefit amounts for Defined Benefit plans have been increased.

For businesses that wish to spend practically nothing on administration, there is the SIMPLE IRA and the Safe Harbor 401(k). For smaller closely held organizations that would like benefits to be skewed toward the older more highly compensated employees, a Cross-Tested Profit-Sharing Plan could serve very nicely. Businesses which have sponsored both a Money Purchase and Profit-Sharing Plan in order to obtain the maximum 25% contribution deduction plus partial flexibility will now be able to achieve the full 25% contribution plus maximum flexibility, all within one simple Profit-Sharing Trust. Contribution limits are being substantially increased while costs and the need for complicated combined plans have been reduced.

If your business doesn't have a retirement plan or if you are not yet positioned to take advantage of the latest opportunities, you owe it to yourself and your business to explore the gifts the government has in store for you. Take a few minutes to listen to the enclosed message, then contact me for a complimentary consultation. You'll be glad you did!