LEARN GREAT 401(k) ENHANCEMENT IDEAS HERE ↓The 401(k) plan space has changed a lot in the past few years. Costs have come down, there are fewer providers, and an increased focus on fiduciary responsibility. Employers are expected to have a retirement benefit for their employees. If they don’t, they can fall behind when it comes to retaining and attracting top talent. Well-designed company-sponsored retirement plans can help owners and executives build wealth while substantially reducing taxes._____________________________________________________________________________________________________________________Here are a few core strategies you can use now to enhance your 401(k): ➊ Create an Investment Policy Statement (IPS). An IPS is a written document that provides direction and guidance for trustees and investment professionals regarding the selection and management of investment assets based on goals and objectives. Having a written process is key to fiduciary excellence. ➋ Consider your company match and eligibility carefully. To attract top talent having a strong retirement benefit can go a long way. Safe harbor provisions are ideal, however, immediate eligibility and a 3-4% match can be a game-changer when attracting talent. ➌ Business owners can greatly reduce their tax liability and create wealth for themselves and executives through a combination of 401(k), company match, profit sharing, and cash balance plans. In certain situations, an owner can defer hundreds of thousands of dollars per year.Not all retirement plans are created equal. It is important that your plan is well designed, cost-effective, meet its goals and objectives, and is well-governed.If you would like to understand more about strategies to improve your 401(k), let’s chat. Whether or not we decide to do business together, I am confident that our call will be full of insights and actionable steps that can help you enhance your retirement benefit.Here's a link to my calendar https://calendly.com/mwentz/15-minute-zoom . Please pick a time that works best for you. Mwentz@trinity-wealth.com | 610-296-2020