Offering 401(k) plans and retirement consulting for employees can be an excellent way to support employee welfare. The retirement planning process requires extensive foresight and an acute awareness of financial strategy. Relying on experienced consultants for the planning process can help employers develop a comprehensive plan designed for risk mitigation and financial optimization.
At Bowen, Miclette & Britt, we leverage insurance knowledge, technology, and our dedication to clients to drive our retirement planning services for employees.
Retirement Plan Consultants In Houston
At Bowen, Miclette & Britt, our team of retirement plan consultants can provide the comprehensive support needed for employee retirement programs. Our retirement services include:
- Helping employers choose group 401(k) plans.
- Managing compliance for retirement benefits.
- Developing a strategy for employee retirement programs.
- Mitigating associated risks with these programs.
- Reducing administrative responsibilities for employers.
With our team’s support, employees at all stages of life can prepare for retirement. Our experience with insurance coverages, risk mitigation, and loss control allows us to approach retirement programs with an informed strategy.
The Advantages of Working With BMB
BMB is licensed as a broker in all 50 states and maintains a place on the top 100 brokers list in the U.S. While our accolades set us apart, our commitment to client relationships proves our dedication to providing comprehensive services. For our retirement planning services, our team will perform a needs assessment, build a defined financial structure, and answer questions throughout the course of employers’ plans.
Our service portal provides convenience and accessibility for insurance policy management. Clients can access policy information regarding retirement plans and get in touch with our team through the platform.
What Is a 401(k) Plan?
A 401(k) is a retirement plan sponsored by an employer that employees can contribute to. Employees make contributions through a tax-free paycheck deduction, and employers match it with a pre-tax contribution.
Since employees make these contributions without paying taxes, they’ll pay income tax when they deduct the money. The country’s 401(k) laws only allow employees to deduct from their account at 59.5 years old, or they’ll incur a 10% penalty on their payments. Group 401(k) plans have higher contribution caps than other retirement funds, allowing employees to benefit from this type of retirement planning.
Why Is Retirement Planning Beneficial?
Retirement support with 401(k) programs and other plans can be beneficial for employees and employers alike. For employees, these programs can secure their financial future. Long-term investing in these programs can enable employees to retire and live comfortably with their incomes. The payroll deduction makes it easy and manageable regardless of financial background.
Employers can benefit from employee retirement programs because they can make their companies more competitive in the labor market. Offering this type of benefit can also improve employee morale and overall work performance.
Get Started with An Expert Houston Retirement Planning Company
BMB applies its core values — knowledge, vision, accountability, and service — to our employee retirement planning and senior benefit services. Our dedication to clients allows our team to provide exhaustive support for retirement plans, even as needs shift. Contact us today to learn more about our services and how we can help.
