Mesa, AZ Retirement Plan Consultants

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Retirement plan consultants in Mesa, AZ. Creating a retirement plan like a 401(k) is a smart move for Mesa, AZ businesses and business owners looking for a competitive advantage. These plans are a key factor in attracting and retaining top talent, providing employees with a sense of security, and fostering a productive 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 variety of plans available, regulatory compliance, and tax considerations can be daunting.

Correct Capital Wealth Management is an independent Mesa, AZ financial consultancy firm that specializes in helping companies set up and maintain customized retirement plans, built around the needs of both your business and workers. We enjoy exploring the unique story behind every company we work with and getting to know what makes them tick. As fiduciary advisors, we have a legal and ethical obligation to act only in your best interest. If you're in search of a retirement plan consultant in Mesa, AZ to help set up a 401(k) or other plan, reach out to us via 877-930-4015, contact us online, or make 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 Mesa, AZ Business

To understand what a 401(k) or other retirement plan could mean for your Mesa, AZ company, it's essential 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 outlive their retirement savings (Source)
  • Nearly half of retirees say their income wasn't high enough to save for retirement; over half blame their employer for not doing enough to help them save (Source)
  • In one survey, 62% of respondents said their main 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 key reason to join a company; almost half ranked it in their top three most desired benefits (Source)
  • 77% of employees with access to a plan opt-in (Source)
  • 78% of Gen Z and Millennial 401(k) plan participants are keen on customized investment advice for their plan (Source)
  • Three-quarters of plan participants are "extremely confident" in their ability to make sound financial decisions with the help of a financial advisor (Source)

Saving for retirement is a significant concern for most Americans, and Mesa, AZ businesses that offer retirement plans give themselves a significant edge when it comes to securing and keeping valuable employees. Additionally, 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
  • Tax-free earnings on assets
  • Variety of plan options and flexibility to adapt a plan to your business
  • Tax credits , among other advantages from the SECURE ACT 2.0, help reduce initial costs
  • Higher employee retention lowers the annual cost of turnover

Employee Benefits

  • Employees can lower their taxable income
  • No taxation on contributions and earnings until withdrawal
  • Easy-to-make contributions through payroll deductions
  • Small, regular contributions can grow into significant retirement savings
  • Participant assets can be rolled over if they change employers
  • Improved financial security in retirement

Retirement Plan Options Available for Mesa, AZ Businesses

If you're thinking about adopting a retirement plan for your Mesa, AZ business, there are a range of plan options our retirement plan consultants can discuss with you:

  • 401(k) Plans The foundation of American retirement plans, 401(k)s enable for diverse investments across stocks, bonds, mutual funds, and ETFs, and permit employees to save and invest a part of their earnings before taxes are deducted. Employers can choose to match contributions. Safe Harbor 401(k) plans are largely the same, but employer contributions are required to be fully vested immediately. In exchange, safe harbor 401(k)s are not subject to annual nondiscrimination tests.
  • 403(b) Plans Comparable to 401(k)s, 403(b)s are tailored 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 certain amount or percentage of their paycheck, defined benefit plans promise a specific monthly withdrawal once an employee reaches retirement. These plans are mostly employer-funded, and the company takes on the investment risk.
  • Cash Balance Plans Cash balance plans are a type of defined benefit plan that accounts for each participant's balance in a hypothetical account, which increases every year through employer contributions and an interest credit rate. This plan offers consistent returns like a traditional pension but with personalized accounts similar to a 401(k). It's an attractive option for businesses seeking a middle ground between the certainty of pensions and the adaptability 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 straightforward to manage, with minimal paperwork, and contributions are tax-deductible for the business. They're particularly well-suited for businesses with variable profits, as the contribution amounts can be adjusted annually.
  • Savings Incentive Match Plan for Employees (SIMPLE) IRA SIMPLE IRAs are designed for small businesses with 100 or fewer employees. These plans are simpler to manage than 401(k)s but allow employees to contribute a percentage of their earnings to the plan, which employers must match up to a certain percentage. SIMPLE IRAs are a great choice 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 flexible retirement solutions that enable employers to make discretionary contributions to their employees' retirement funds. Contributions are typically made out of the company's profits, giving employees a direct stake in the company's success. 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 provide employees with company stock, providing an ownership interest in the business. ESOPs are not only a retirement benefit but also align employees' interests with the company's performance, which can boost productivity and job satisfaction. ESOPs can also align with a company's succession planning as ownership shares can be passed to high performers who will eventually take the reins of the business.

What Can Correct Capital's Mesa, AZ Retirement Plan Consultants Do for My Business?

Our Mesa, 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 U.S. Our experience and expertise enables us to offer a range of services that encompass both the initial set up and ongoing support:

  • Plan selection — We'll help with evaluating and selecting the most fitting retirement plan for your business, taking into account factors such as number of employees, financial goals, employee demographics, and tax considerations. The goal is to select a plan that offers the best benefits to your employees while being cost-effective for your business.
  • Establishing the plan — A number of steps are required to make the retirement plan legitimate. These include creating a formal written agreement, arranging a trust for trust assets, notifying eligible employees about the terms of the plan, and creating a record-keeping system. Our Mesa, AZ retirement plan consultants can manage and/or assist with all of these requirements.
  • Plan changes — Possibly you're unhappy with your current plan, or your business has evolved and you need a retirement plan consultant that can help your retirement plan evolve with you. Consultants can help you with modifying your plan to adapt to business growth, changes in workforce, or shifts in financial goals. This includes introducing new options, 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 should be made available within the plan. This includes assessing the performance of different investment funds, determining your employees' risk tolerance, and guaranteeing a diverse range of options to accommodate the varying investment preferences and retirement goals of your employees.
  • Plan documentation — Retirement plan consultants help in drafting and maintaining all necessary plan documentation, ensuring compliance with IRS and Department of Labor regulations. This includes plan adoption agreements, plan summaries, and annual notices to participants.
  • Ongoing participant education — Informing participants is paramount 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 offer quarterly webinars to plan participants and offer one-on-one coaching for topics such as retirement planning, investment risk, and how to enhance their retirement savings.
  • Help with regulations and audits — The IRS, SEC, ERISA, and other laws and institutions set rigid guidelines 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 Mesa, AZ business stays compliant. Additionally, 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 Mesa, AZ include:

Mesa, AZ Retirement Plan Consultants | Correct Capital

As you contemplate the future of your business and the welfare of your employees, offering a retirement plan should be front and center. With our wide array of services and dedication to working solely in your optimal interest, we'll help you guide your Mesa, AZ business and employees from where you are to where you want to go. To initiate creating a plan that matches with your individual business and objectives, talk to a retirement plan consultant in Mesa, AZ today at 877-930-4015 or contact us online.


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