Retirement Planning

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Implementing or having an employer-sponsored retirement plan is often one of the best decisions you make for your business and yourself.  

Although retirement planning can be intimidating, SDMI Insurance and Financial Services puts you in control of the process. We guide you through our specialized retirement plans and features to help you select the best retirement solution for you and your employees.

PLAN TYPES

Each of our plans offers specific benefits that can make

them invaluable to your business

401 (k)

Section 401(k) is the IRS code that allows eligible participants in a Defined Contribution plan to make voluntary tax deferred contributions. These contributions remain in a Trust and are invested by the participant. The participants are not taxed on the income they defer nor are they taxed on the growth of their investments. Taxes are paid when the money is withdrawn aafter age 59 1/2.

Safe Harbor Plan

A Safe Harbor plan is one that qrequires the employer to make a 100% vested contribution to his or her employees in the form of a 4% match or a 3% non elective contribution. A Safe Harbor plans allow business owners to participate in their company retirement plan regardless of employee participation.

Profit Sharing

This is an employer contribution made to his or her employees. Profit Sharing contributions are given to all eligible employees. Profit Sharing can be allocated in different ways depending on the demographics oaf the group and is typically vested up to 6 years. Here are some allocation formula used in most profit sharing plans:

Owner Only 401 (k)

This specially designed 401 (k) plan allows one person businesses with no employees to maximize salary deferral contributions without compliance testing.

SEP IRA

A SEP (Simplified Employee Plan) IRA is a retirement plan for small business owners and self employed individuals. SEP IRA's offers simple administration, no employer tax filings, no specific annual funding requirements and flexible contribution amounts.

Within this process, both knowing your total investment expenses and your third party administration costs make up the total cost of your retirement plan. 

Knowing how these costs are implemented can empower you to make healthier business and retirement planning decisions.

How can we help you?  We want to review your total cost to help you determine whether the current plan you have in place will accomodate your future retirement needs. 

This process includes reviewing your investment choices, investment expenses and your third-party administration (TPA) costs.  This review gives you a snapshot of your total retirement plans fees and expenses, and can help you understand exactly what your retirement plan costs. 

INVESTMENT APPROACH

Achieving the desired result is a ongoing goal that requires a well-defined plan.  We need to understand that as capital markets are constantly shifting, the investor’s short term and long term goals remain anchored in this well-defined plan. Having a strategy throughout your retirement accumulation years demands focus, perspective and character.

We understand that portfolio efficiency is a key element to investment performance.  A well-designed portfolio should not give back hard earned gains to fees and expenses.  Minimizing avoidable expenses allows the portfolio to keep and reinvest more of its hard earned gains.

In the end, we all need money to retire.  Having a well-defined plan will help you achieve your goal, and retire with peace of mind.