Are you setting your retirement plan up for success?
Starting a retirement plan can be a valuable investment in your business and your employees. But with so many decisions involved, overlooking the details early on can create unnecessary costs, administrative headaches, and missed opportunities down the road.
The decisions you make when establishing a plan can impact:
- Plan costs and available tax savings
- Employee participation and engagement
- Administrative responsibilities
- Compliance and fiduciary obligations
- Your ability to meet long-term business goals
Setting up a retirement plan doesn't have to be overwhelming. We've highlighted 8 common mistakes businesses make when starting a retirement plan and what you should know to help avoid them.
Securities offered through Kestra Investment Services, LLC, (Kestra IS), member FINRA/SIPC. Investment Advisory Services offered through Kestra Advisory Services, LLC, (Kestra AS) an affiliate of Kestra IS. Beacon Financial Services is not affiliated with Kestra IS or Kestra AS. Beacon Financial Services does not provide legal or tax advice. https://www.kestrafinancial.com/disclosures
This information was developed as a general guide to educate plan sponsors and is not intended as authoritative guidance or tax/legal advice. Each plan has unique requirements and you should consult your attorney or tax advisor for guidance on your specific situation.
