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The Business of Savings
Announcing a 401(k) for Groupies (aka. Advanced Profit Sharing)
When we hear a business owner ask for the “Grouper”, we know they are interested in how they might use a 401(k) plan to reward employees differently by group, tenure or age. Advanced profit sharing 401(k) plans give employers more flexibility in allocating different percentages of contributions to different levels of employees.
Today, you may notice that we expanded our product line-up to include a 401(k) designed for those looking for advanced profit sharing options. If you don’t know about advanced profit sharing, it’s pretty hard to ask about it. We’re calling it the Tiered Profit Sharing 401k.
Tiered profit sharing is often a great fit for many partnerships and law firms. For example, a legal firm might differentiate profit sharing among the clearly-defined groups of partners, attorneys, paralegals and administrative staff. Our expanded platform and administrator’s support services enable us to customize the program to about any configuration possible that satisfy 401(k) regulations.
Our new product name, low pricing and enhanced services make it easy for any business to align business profits with each defined employee group’s impact on results. To learn more about our Tiered Profit Sharing 401k plans and the exciting world of new comparability and age weighted profit sharing, give this overview a read.