Chandler, AZ Retirement Plan Consultants

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Retirement plan consultants in Chandler, AZ. Adopting a retirement plan such as 401(k) is a smart step for Chandler, AZ businesses and business owners looking for a competitive advantage. These plans are a vital component in attracting and retaining top talent, providing employees with a feeling of stability, and fostering a committed workforce. But, for businesses who haven't established a retirement plan before, or for companies who'd like to make changes to their current plan, the wealth of plan options, legal requirements, and tax considerations can be overwhelming.

Correct Capital Wealth Management is an independent Chandler, AZ financial consultancy firm that specializes in assisting companies set up and maintain unique retirement plans for your unique business and workforce. We enjoy exploring the unique story behind each business we work with and getting to know what makes them tick. As fiduciary advisors, our only goal is to act in your best interest. If you're in search of a retirement plan consultant in Chandler, AZ to help create a 401(k) or other plan, give us a call at 877-930-4015, contact us online, or schedule an appointment with one of our financial advisors today.


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Correct Capital Wealth Management's office is physically located in St. Louis, MO, but we serve clients throughout the United States in both personal financial planning and corporate retirement plans.

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Benefits of Starting a Retirement Plan for Your Chandler, AZ Business

To understand what a 401(k) or other retirement plan could mean for your Chandler, AZ company, it's important to examine how much it means to your employees:

  • 2 in 3 U.S. retirees say there's a retirement crisis in the country; 40% worry they will live longer than their savings last (Source)
  • Almost half of retirees say their income wasn't sufficient to save for retirement; over half blame their employer for not doing enough to help them save (Source)
  • In a recent study, nearly two-thirds of respondents said their primary source of income in retirement will be their 401(k) (Source)
  • Six out of ten of employees cited their employers' retirement plan as a reason they remain; nearly half said it's an essential reason to join a company; about four in ten ranked it in their three most desired most desired benefits (Source)
  • 77% of employees with access to a plan opt-in (Source)
  • Nearly eight in ten of younger workers that are 401(k) plan participants are looking for personalized investment advice for their plan (Source)
  • Three-quarters of plan participants are "extremely confident" in their ability to make the right decisions with their money with the help of a financial advisor (Source)

Retirement savings is a huge concern for most Americans, and Chandler, AZ businesses that sponsor retirement plans provide themselves a leg up when it comes to securing and keeping valuable employees. Moreover, there are a bevy of benefits for both employers and employees when it comes to offering retirement plans:


Business Benefits

  • Tax deductions for employer contributions
  • Earnings on plan assets are tax-free
  • Variety of plan options and flexibility to adapt a plan to your business
  • Tax credits , among other advantages from the SECURE ACT 2.0, assist in reducing initial costs
  • Higher employee retention lowers the annual cost of turnover

Employee Benefits

  • Employee contributions can reduce their taxable income
  • No taxation on contributions and earnings until withdrawal
  • Contributions are easy to make through payroll deductions
  • Even small, regular contributions can accumulate into significant retirement savings
  • Participant assets can be rolled over if they change employers
  • Enhanced financial wellbeing in retirement

Types of Retirement Plans Available for Chandler, AZ Businesses

If you're considering establishing a 401(k) or other plan for your Chandler, AZ business, there are a variety of plan options that may be right for your business:

  • 401(k) Plans The cornerstone of American retirement plans, 401(k)s enable for diverse investments across stocks, bonds, mutual funds, and ETFs, and allow employees to save and invest a percentage of their income before taxes are taken out. Employers can choose to match contributions. Safe Harbor 401(k) plans are essentially the same, but employer contributions must be fully vested immediately. In exchange, safe harbor 401(k)s are not subject to annual nondiscrimination tests.
  • 403(b) Plans Similar to 401(k)s, 403(b)s are specifically designed for employees of non-profit entities.
  • Defined Benefit (Pension) Plans While 401(k)s and other defined contribution plans are based on employees contributing a specific amount or percentage of their income, defined benefit plans promise a predetermined monthly withdrawal once an employee reaches retirement. These plans are primarily employer-funded, and the company assumes the investment risk.
  • Cash Balance Plans Cash balance plans are a type of defined benefit plan that tracks each participant's balance in a hypothetical account, which increases annually through employer contributions and an annual interest rate. This plan offers predictable benefits like a traditional pension but with personalized accounts similar to a defined contribution plan. It's an appealing option for businesses looking for a middle ground between the certainty of pensions and the flexibility of contribution plans.
  • Simplified Employee Pension (SEP) IRAs SEP plans offer a simple way for small businesses to provide retirement benefits. Employers make contributions directly to an IRA established for each employee. SEPs are easy to administer, with no significant red tape, and contributions are deductible for the business. They're particularly well-suited for businesses with fluctuating income, as the contribution amounts can be adjusted annually.
  • Savings Incentive Match Plan for Employees (SIMPLE) IRA SIMPLE IRAs are tailored to small businesses with 100 or fewer employees. These plans are simpler to manage than 401(k)s but allow employees to contribute a part of their paycheck to the plan, which employers must match up to a certain percentage. SIMPLE IRAs are an excellent option for small businesses seeking to provide a more traditional retirement plan without the red tape associated with larger plans.
  • Profit-Sharing Plans Profit-sharing plans are versatile retirement solutions that allow employers to make optional contributions to their employees' retirement funds. Contributions are often made out of the company's profits, giving employees an incentive to contribute to the company's bottom line. These plans can be structured in many ways, offering flexibility in how contributions are distributed and calculated among employees.
  • Employee Stock Ownership Plans (ESOPs) ESOPs offer employees with company stock, offering them an ownership interest in the business. ESOPs are not only a retirement benefit but also align employees' interests with the company's performance, potentially boosting productivity and job satisfaction. ESOPs can also be part of a company's succession planning as ownership shares can be passed to high performers who will eventually take the reins of the business.

How Can Correct Capital Help My Business's Retirement Plan?

Our Chandler, AZ retirement plan consultants manage over 30 plans in both small and large companies, and represent over $230 million in total plan assets across the country. Our expertise and experience allows us to offer a range of services that encompass both the initial set up and ongoing support:

  • Plan selection — We'll assist in evaluating different plan options and selecting the most appropriate retirement plan for your business, considering factors such as company size, financial goals, employee demographics, and tax considerations. The goal is to choose a plan that provides the best benefits to your employees while being efficient for your business.
  • Establishing the plan — A number of steps are required to formally put the retirement plan in place. These include creating a formal written agreement, arranging a trust for trust assets, notifying eligible employees about the terms of the plan, and setting up a record-keeping system. Our Chandler, AZ retirement plan consultants can carry out and/or assist with each of these steps.
  • Plan changes — Possibly you're unsatisfied your current plan, or your business has evolved and you need a retirement plan consultant that can help your retirement plan adapt as you grow. Consultants can assist you in modifying your plan to adapt to business growth, changes in workforce, or shifts in financial goals. This includes adding new features, modifying contribution limits, or transitioning to a different type of plan to more closely align with your needs.
  • Investment advice — As a Registered Investment Advisor (RIA), we possess a wide array of analytical tools, resources, and experience to help with the selection of investment options that ought to be made available within the plan. This includes examining the performance of different investment funds, assessing your employees' risk tolerance, and ensuring a diverse range of options to accommodate the varying investment preferences and retirement goals of your employees.
  • Plan documentation — Retirement plan consultants assist in drafting and maintaining all required plan documentation, ensuring compliance with IRS and Department of Labor regulations. This includes adoption agreements for the plan, plan summaries, and annual notices to participants.
  • Ongoing participant education — Education is vital to ensuring that your employees comprehend the benefits of participating in the retirement plan and how to make wise investment choices. Correct Capital's retirement plan consultants carry out quarterly webinars to plan participants and offer one-on-one coaching for topics such as retirement planning, investment risk, and how to maximize their retirement savings.
  • Help with regulations and audits — The IRS, SEC, ERISA, and other laws and institutions establish rigid frameworks for how companies need to stay legally compliant with their retirement plans. Most retirement plans are also subject to annual audits. Retirement plan consultants can assist in ensuring your Chandler, AZ business stays compliant. Moreover, hiring Correct Capital as your retirement plan consultant helps remove much of the fiduciary duty related to the plan from your responsibilities.

Other services we offer in Chandler, AZ include:

Chandler, AZ Retirement Plan Consultants | Correct Capital

As you contemplate the future of your company and the welfare of your workforce, implementing a retirement plan should be at the forefront. With our complete range of services and dedication to acting solely in your best interest, we'll help you lead your Chandler, AZ company and employees from where you are to where you want to go. To start developing a plan that fits with your individual business and objectives, speak to a retirement plan consultant in Chandler, AZ today at 877-930-4015 or contact us online.


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