Group Retirement
Exclusive to ASID Members
Why Start 401k?
Schedule a Meeting Today
401(k) plans are among the most popular retirement options in the United States, representing about 70% of all employer-based plans.
401(k) plans offer diverse investment options, including stocks, bonds, and cash equivalents. They provide benefits from tax incentives for small businesses to talent recruitment and retention through employer-matching contributions. Additionally, features like automatic enrollment can boost participation rates.
Stay Competitive
Offering a 401(k) can help your business compete when recruiting and retaining top talent. In fact, employees said healthcare and retirement were the two primary benefits they consider when evaluating a compensation package, while 78% of employees rated retirement plans as a “must-have” benefit. Additionally, half of all Americans say they would leave their current job for another with better benefits.
Tax Benefits
Employees and business owners can make regular contributions on a pretax basis, which can lower their taxable income.
- No federal income tax for contributions up to the $23,500 limit in 2024 ($30,500 age 50 or better).
- Earnings accumulate tax-deferred, meaning dividends and capital gains aren’t subject to tax until participants make withdrawals.
Employers can match a portion of the employee’s contribution.
According to Vanguard, 96% of plans provided an employer contribution in 2020. Those who do can benefit from significant tax incentives.
- Money a business contributes to the 401(k) is tax-deductible, up to 25% of the total compensation of eligible employees each year.
- Your employer match can simultaneously boost your bottom line while improving the well-being of your employees.
Platform Considerations
The ASID Member Retirement Platform has customization options allowing Arcwood Financial to:
- Align your 401(k) with your business and employee needs.
- Analyze factors like administrative fees, investment options, plan flexibility, and participant support.
Plan Design Considerations
The ASID platform takes pride in guiding members through the wide range of plan design options available, aligning these options with your business's leadership goals to positively influence plan outcomes.
Arcwood Financial offer tailored suggestions, which may include the following plan design options:
Basic Safe Harbor Match
Discretionary Profit Sharing
Non-Elective Contributions
QACA Employer Contributions
Automatic Enrollment
Automatic Escalation
Define custom waiting periods
Loan Features
Schedule a Meeting Today
Program Partner
Design Business by ASID program partners; Arcwood Benefits Consulting, Inc. as an insurance consultant and Arcwood Financial as a 401(k) advisor and consultant, dba Arcwood®, will assist ASID members in reviewing program options and comparing them with other insurance plans and retirement plan vendors. Arcwood is also available to conduct pricing and plan design analyses for ASID members with existing plans and larger businesses.
