Monoceros has the capability to offer you, the business executive, a low cost solution to reward your staff and have tax benefits for all parties involved. Starting a business retirement savings plan can be easier than most business people think. As an employer, you have an important role to play in helping America's workers save. We offer solutions to a variety of businesses: from self-employed individuals to large corporate entities. Typically, SEP IRAs are established for sole proprietors or employers of independent contractors, but every situation is unique and requires careful analysis. Contact us today to examine which plan works best for your business.
Features and Benefits of a Defined Contribution:
- -A 401(k) plan may allow participants to take their benefits with them when they leave the company, easing administrative burdens
- -Contributions and earnings generally are not taxed by the Federal government or by most State governments until they are distributed
- -A 401(k) plan benefits a mix of rank-and-file employees and owners/managers
- -The money contributed may grow through ETFs invested in specific sectors, countries, and asset classes
- -Employers are entitled to a tax deduction for their contributions to employees’ accounts
- -It allows participants to decide how much to contribute to their accounts on a before-tax basis
- -A well-designed 401(k) plan can help attract and keep talented employees
- -Safe Harbor provisions may reduce costs and administrative burdens to the employer
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