RETIREMENT PLANS
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Retirement Savings Plans
A retirement savings plan is a financial instrument designed for businesses to help employees accumulate and invest funds to support their retirement years. These plans offer tax advantages and investment options, as well as Roth & Pre-tax contributions, to promote financial security throughout retirement.
401(k): A widely offered retirement savings plan that enables employees to save and invest a portion of their paycheck for their future.
Safe Harbor 401(k): Simplifies IRS & federal compliance efforts through mandated employer contributions to employee 401(k) accounts.Â
Solo 401(k): Tailor-made for self-employed individuals, offering higher contribution limits than IRAs and efficient compliance testing.
403(b): Similar in design to a 401(k), a 403(b) plan is specifically structured for employees of eligible 501(c)(3) non-profit organizations, such as schools or hospitals.
Disclaimer:
SwitchUp Insurance LLC does not provide or manage retirement accounts, nor does SwitchUp Insurance LLC provide guidance on plan design, compliance, communication, administration, or participant support. SwitchUp Insurance LLC does not charge clients for its retirement plan based services. SwitchUp Insurance LLC is compensated by Third Party Administrators, and is not directly affiliated with the SEC or other regulatory bodies. SwitchUp Insurance LLC does not provide any tax advice or tax related services. We recommend seeking qualified professional advice for personal financial and tax planning.
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