Business Strategies
PLJ Advisors doesn't only work with individuals. We work businesses to find the right strategies for their employees.
PENSION PLANNING - Choose a pension plan that will boost your success
When choosing your company pension plan, your decision needs to be based on personal and business goals. The type of plan you choose depends on several factors. You can start by asking yourself these questions:
Do you have 100 or fewer employees and would like to make a company contribution up to 3% of pay? Consider a SIMPLE plan.
Do you want to include employees in your plan who work less than 1000 hours per year?Consider a SEP plan.
Should your contributions vary according to your business’ profit and be paid to your employees immediately? Consider a Cash Profit Sharing plan.
Would you like to make contributions that vary according to company profits and be payable at retirement? Consider a Deferred Profit Sharing plan.
Do you want your employees to achieve a specific “target” sum of money at retirement independent of company profits? Consider a Target-Benefit plan or a Defined-Benefit plan.
Would it be best for your employees to defer some of their current income and save it in a tax-deferred account? Consider a 401(k) plan.
Do you want to match your employees’ contribution more than 3%? Consider a 401(k) plan.
Do you want to make contributions to your employees’ retirement independent of company profits? Consider a Money Purchase plan.
Of course, these questions and answers are designed to point you in the right direction. The service providers of these plans will be able to discuss these options in greater detail and help you decide which plan is best for you and your business.
401K: START IT TODAY
Implementing a 401(k) plan can help you and your company stay competitive in the tight labor market. Today a 401(k) plan is easier cheaper to implement and maintain than ever before.
A 401(k) can attract and retain the best employees, help employees plan for retirement, simplify investment decisions, and defer federal and sometimes state income taxes for you and your employees.
HEALTHY EMPLOYEES EQUALS A THRIVING COMPANY
If you dont have group health insurance, you will run into employee retention problems in the future. Employees always list health insurance benefits as their top reason for choosing to work for a company. Saving a few dollars today by not providing this basic service will wind up costing you and your business greatly through the loss of key employees. Alternatively, if your group health insurance plan is not adequate, this may become an ongoing issue.
As a business owner, ask yourself:
1. Do I need to provide group health insurance for my employees?
2. Does my current group health insurance plan offer myself and my employees the best coverage possible?
PLJ Advisors wants to see your business succeed and grow, which is why we will provide you with solutions that will better your chances of success. Your group health insurance policy impacts your employees’ satisfaction and, thus, their work performance and loyalty to you and the company.
A good group health insurance plan is a balance between the cost for you and the benefits it provides you and your employees. PLJ Advisors has affiliations with major group providers, allowing you ample choice.
LIFE INSURANCE
Job seekers and keepers have a common theme: what peaks their interest and keeps them satisfied has to do with your employee benefit program. In addition to group health insurance, your employees will invariably have someone who depends on them such as a child or spouse. It is important to provide your employees with something that will also help the people they love, such as group life insurance.
Like your group health insurance plan, a group life insurance plan can ensure better employee retention and satisfaction rates, leading to higher production and output for your business.
PLJ Advisors is a comprehensive financial planning firm, and we can help evaluate your current group life insurance plan. If you do not have a group life insurance plan, then we can assist you in finding the best value for you money.
Take Action Today! Let PLJ Advisors help you better your business and make it grow. Call us at 310-824-1000.
