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Sportin' Wood
12-07-2005, 06:42 AM
Anyone on here use San Diego Pension consultants for there employee's 401k program?
I am looking to start a pension fund for my employees and am close to pulling the trigger with this company. Any one have experience with them?
SW

BarryMac
12-07-2005, 07:09 AM
Anyone on here use San Diego Pension consultants for there employee's 401k program?
I am looking to start a pension fund for my employees and am close to pulling the trigger with this company. Any one have experience with them?
SW
SW, Lightning may be able to help you with this, he is a guru when it comes to finances, he is my personal finance pimp and I'm pretty sure he can point you in the right direction. I'll PM you his cell...

RandyH
12-07-2005, 09:12 AM
Not sure if pensions are the way to go. I never really understood how a company could gaureetee someone money into the future. Unless they are the government :) But there are some good profit sharing plans out there and combined with a 401K and (Dont hold me to this) a 3% committed amount, you can sock some huge money away for your employees and yourself. It has to meet some testing average and the 3% can get you beyond the 15% amount.
Good Luck,
RandyH

Sportin' Wood
12-07-2005, 09:17 AM
Not sure if pensions are the way to go. I never really understood how a company could gaureetee someone money into the future. Unless they are the government :) But there are some good profit sharing plans out there and combined with a 401K and (Dont hold me to this) a 3% committed amount, you can sock some huge money away for your employees and yourself. It has to meet some testing average and the 3% can get you beyond the 15% amount.
Good Luck,
RandyH
Thanks, Profit sharing is not right for me at this time. An employer matched 401k is about all I can offer at this time. Besides Ya gotta show a profit to have profit sharing :) Either way I'm sure that something is better then nothing. I have been working on this for 3 months now so I'm pretty much set on the 401k. There are lots of options but I think this is what works best for the company at this time.
SW

RandyH
12-07-2005, 09:43 AM
I think we are talking the same thing but you still may want to consider the profit sharing option. At the end of the year if you make no money,you just simply put down zero for the employees. But they can still contribute to the 401 K at no cost to the company. Other than the fees.
But when you have a good year you can share the wealth . In the past it was 0 to 15% of gross wages. If you set the 3% early, you can take it to 25%. Its big time tax avoidance and legal.
I think the laws changed just a few years ago to allow this. We just changed our 15 year old PS plan to this. Rolled everything over to Nationwide and the employees view thier accounts online. It seems to be working great.
Good Luck
Randy