As the nation's largest independent retirement services provider, Ascensus offers the freedom to design a retirement program that will work for your unique business. A defined contribution plan gives employees an opportunity to save for a more secure future, making it one of the most rewarding benefits an employer can offer. We aim to make retirement plan administration as simple as possible, so you can focus on growing your business.
These employer-sponsored retirement plans enable employees to contribute a percentage of their pay, tax-deferred, into an individual savings account. The amount of the benefit is based primarily on the amount contributed by the employee.
One of the most well-known and popular employer-sponsored retirement plans is the 401(k), which enables employees to contribute pre-tax income through salary deferrals, and to which employers may make matching contributions. Ascensus offers a variety of 401(k) plans for businesses of all sizes.
A 403(b) plan enables employees of nonprofit, education, and healthcare organizations to save for retirement by contributing pre-tax dollars from their paycheck, and is subject to ERISA requirements. This type of retirement plan is typically the primary plan offered by the employer.
Similar to the ERISA 403(b), a non-ERISA 403(b) enables employees of nonprofit, education, and healthcare organizations to save for retirement by contributing pre-tax dollars from their paycheck, and is exempt from ERISA regulations. A non-ERISA 403(b) plan is typically supplemental to another type of retirement savings offering.
A governmental 457(b) plan is an employer-sponsored, tax-advantaged retirement plan available to state and local government employees. With its high contribution limits, it can be used in conjunction with other tax-advantaged accounts to increase retirement savings.
A prevailing wage retirement plan addresses the requirements of the Davis-Bacon Act by using the fringe benefit component of prevailing wage to fund a qualified retirement plan.
For small business owners, 401(k) plans can be a powerful tool to enhance financial security in retirement for both you and your employees. Plus, a 401(k) plan can help you attract and retain top talent and even offer your business significant tax advantages. However, navigating the complexities of setting up a 401(k) plan can feel daunting.
Individual(k)TM plans, also known as Solo 401(k) plans or self-employed 401(k)s, are designed for self-employed individuals or small business owners with no additional non-spouse employees. These plans offer many of the same benefits as traditional 401(k) plans, including tax-deferred growth and the potential for employer contributions. However, there are some requirements you need to consider before your spouse can participate in your plan.
You've done the research and you've seen the statistics: more than 90 percent of American employees value a 401(k) or similar retirement plan as an important benefit—and more than 4 in 5 agree that retirement benefits offered by a potential employer would be a major factor in their decision-making on whether or not to take a job.1
