Synergy Asset Management

Employee BenefitsRetirement Planning

Competitive Edge: Choosing the Right Retirement Plan

Retirement PlanningThe average worker today stays at his or her job for approximately 4.4 years, according to the Bureau of Labor Statistics, said in an August 2012 article. On top of that, Millenials (or Gen Y) expect to stay in their jobs for less than three years. With so much job hopping, hiring and retaining key staff can be challenging for even the best of companies. As a business owner, how can you attract good employees and keep them around? Offering competitive salaries and benefits packages is one way.

For now, let’s focus our discussion on retirement plans. Does your company offer a defined contribution plan such as a 401(k), Roth 401(k), Profit Sharing Plan, SIMPLE or SEP, or a defined benefit plan like a Pension, Cash Balance Plan or Comparability Plan? Maybe your firm doesn’t offer any of these options. Either way, it is important to understand what each type of retirement plan does, what restrictions apply and how a specific plan could benefit your company and its staff.

That’s where Synergy comes in. As retirement planning experts, we can explain these types of plans to you and make recommendations based on your specific goals. For example, if minimizing your taxes is important to you, a qualified plan would better meet your objectives than a nonqualified plan. Do you want a plan in which your employees can contribute? Consider a defined contribution plan such as a 401(k) or Roth 401(k), even if your company has only a handful of employees.

If you already have a plan, we’ll review the plan’s structure, its history and its investment performance. We’ll make recommendations for changes to the plan, or if needed, suggest an additional or replacement plan to better meet your firm’s objectives. In addition to offering investment advice and plan design consulting, we also offer participant education as part of the package.

For example, if you create a 401(k) plan, we’ll attend enrollment meetings to explain to your employees how they can participate. We’ll discuss the various investment options with them, and help them choose investments that match their goals and risk profile. We’ll also communicate with you and your employees regularly to be sure that you fully utilize your retirement plan.

By choosing a retirement plan that works for you – and your valuable employees – your company will have a competitive advantage over other firms. It will show your employees, young and old alike, that you care about their future.

For more information about creating a competitive advantage through retirement planning, please call Synergetic Finance at 206-386-5455 today for a no obligation consultation.

To your wealth,

President of Synergetic Finance

Joe Maas


Related posts
401(k)Business OwnerEmployee BenefitsFinancial PlanningTax PlanningTaxation

6 Ways to Save Money on Taxes


Comparison of 401(k), SEP & SIMPLE IRA plans

Financial PlanningRetirement Planning is live!

Financial PlanningInvestment ManagementRetirement PlanningWealth Management

Managed Portfolios - Now In Your 401(k)