Which One Business Structure is Best For Your Company? The freedom to manage one’s own time, commitments, and work projects, make escaping the 9-to-5 to be a small business owner the dream of many. Along with the liberation, however, comes a myriad of responsibilities; especially when it comes to deciding how to initially structure your…
When companies consider offering a retirement savings plan to employees, the most common selected is the 401(k) retirement plan. This type of savings account is the most typical form of an employer-sponsored plan and is one that most people are familiar. In today’s blog post, we’re examining the fee structures surrounding 401(k) plans and best…
After the ensuing chaos of The Great Depression of 1929, when unregulated and high-risk stock market investments resulted in the Stock Market Crash that destroyed millions of investors and left most corporations without any income to continue paying workers, 13 to 15 million Americans were unemployed, and approximately half of the banks in America failed.…
It may be surprising to learn that although the landscape has changed drastically over the past 40 years, regulations pertaining to retirement plans have not. Since 2010, the Department of Labor (DOL) has been working to redefine and clarify what the term ‘fiduciary’ means under the Employee Retirement Income Security Act (ERISA), in April, the…
You might be surprised to learn that in 2015, the average retirement plan Department of Labor (DOL) audited fine was $424,000. Whereas, the average medical malpractice settlement is $425,000. While both are astronomical and business crippling, thankfully, with the right policies and procedures, we understand that there are ways to reduce the risk. We are going…