Retirement Plan Services
401(k) Plans
A 401(k) plan is one of the most commonly known retirement saving plans sponsored by an employer. A 401(k) plan allows your employees to set aside money from their paycheck and invest it in the market. You can offer them the option to defer taxes on their account until retirement (pre-tax contributions) or pay the taxes upfront (Roth contributions) to withdrawal the money tax-free in retirement.
401(k) Plans with Watkins Ross
It’s a great option for employers because you will receive additional tax deductions while encouraging your employees to prepare for retirement. Employers may choose to match employee contributions or make a profit sharing contribution to the plan. Matching contributions are based on the amount an employee contributes, but Profit Sharing contributions may be made regardless of whether the employee is deferring into the plan.
What are your goals as an employer? To provide a comprehensive retirement plan as part of your benefits package that is competitive in your industry? To take advantage of tax breaks available to your company? To save more for your own retirement as a business owner?
At Watkins Ross, we partner with you to clearly define your objectives and create the 401(k) plan that will be successful for your business. Our team members are experienced experts in plan design, development and advanced compliance testing methods that allow you the optimal flexibility in the administration of your plan. We will communicate the complex 401(k) regulations in an easy to understand manner to your team so they can perform their roles with success.
To start your 401(k) plan today, or for additional questions regarding your 401(k), please contact:
Marianne P. Evans
Defined Contribution Department Manager
Financial & Management Resources
DC Calendar
Blog Post
Related Articles
Maximize Your 401(k)
What a Failed ADP/ACP Test Means
Ensure your 401k retirement plan allows your employees to save the maximum amount allowed by understanding and utilizing ADP/ACP testing.
401(k) Plan Nondiscrimination Testing
Avoid penalties and fees by ensuring your retirement plan meets IRS 401k plan nondiscrimination test requirements.
Retirement Plan Compensation Considerations
Avoid retirement plan compensation definition miscalculations by following these simple steps from Watkins Ross’ experienced retirement plan actuaries.
What Are Controlled Groups and Controlled Group Rules?
Learn more about controlled groups, retirement plan rules, brother-sister controlled groups, and attribution rules in Watkins Ross’ latest article.
402(g) Limit on Elective Deferrals – It’s Personal
Code section 402g limits the amount you can defer to a 401k plan. Did you know it applies at an individual level, not a plan level? Read on to learn more.
In-Service Distributions from Defined Benefit Plans
The Bipartisan American Miners Act of 2019 allows in-service distributions for retirement plan participants to commence at age 59 ½. However, in a defined benefit plan, to receive in-service lump sum distributions at age 59 ½, the distribution must satisfy certain thresholds. Read on to learn more about defined benefit plan lump sum distribution requirements.