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Your retirement plan should work for your business — and for you.
The right plan design can dramatically change how much you're able to contribute toward retirement as the business owner.
The Challenge
Most retirement plans aren't designed with the owner in mind.
Many business owners have a retirement plan in place — but it may not be designed to maximize the owner's contribution potential. A plan that works well for employees may not be the most efficient structure for the owner.
Could your business allow you to put substantially more toward retirement? The answer depends on your business structure, profitability, employee demographics, and cash flow — and it's a question worth asking.
Why It Matters
The cost of an under-optimized retirement plan
- Contribution limits vary significantly by plan type — the difference can be substantial
- Tax deductions tied to retirement contributions may not be maximized
- Owner-focused plan design may allow for significantly higher contributions
- Retirement plan design affects both current tax strategy and long-term wealth accumulation
- An outdated plan may not reflect changes in the business or applicable regulations
Strategies to Consider
Retirement plan options for business owners
Retirement plan suitability depends on the business, employee demographics, cash flow, objectives, and applicable regulations. All plan design decisions should be made in consultation with qualified plan professionals.
How Strategy360 Helps
Retirement plan design as part of a coordinated strategy.
- Evaluate current plan design relative to owner contribution goals
- Coordinate plan design with overall tax and compensation strategy
- Work with qualified plan professionals to analyze plan options
- Help ensure the plan is reviewed as the business and regulations evolve
- Coordinate retirement plan strategy with personal wealth accumulation goals
Questions to Ask
- 1.Are you contributing the maximum amount you'd like toward retirement?
- 2.Has your retirement plan been reviewed in the last two to three years?
- 3.Is your plan designed to maximize your contribution as the owner?
- 4.Could a different plan design allow you to save more while managing costs?
- 5.Is your retirement plan coordinated with your overall tax strategy?
Ready to explore your options?
Schedule a strategy session and let's discuss what may be most relevant to your situation.
Request a Retirement Plan Review