Retirement Planning Made Easy: Customizable Solutions from ABS

Retirement Planning

Written by Brandon Wright

Applied Business Solutions

May 4, 2023

Retirement planning is a crucial aspect of any individual’s financial future, and having a well-designed 401(k) plan can make all the difference. At Applied Business Solutions, we understand the importance of a custom retirement plan that meets the needs of both employers and employees. That’s why we’ve partnered with industry experts to offer a personalized approach that’s both service-oriented and cost-effective.

With our 401(k) concierge service, you’ll have a dedicated consultant to guide you through the onboarding process, establish your plan documents, integrate payroll, manage transfers, and launch enrollment. We’ll communicate with your employees and keep them updated on all required communications, so you can focus on your core business activities.

One of the advantages of partnering with Applied Business Solutions for your retirement planning needs is our ability to offer custom plan designs and payroll processes that may be more cost-effective or tax-efficient for owners. We also help to pick investments and limit personal liability, and provide four modeled portfolios to work with: conservative, balanced, growth, and all-equity growth.

Our integrated record-keeping and enrollment platforms provide participants with easy-to-use tools available on phone, tablet, or desktop. Plan sponsors can customize reports at will and gain valuable insights into their plans. Our MEP platforms integrate with the payroll platform, ensuring all facets of plan operation run smoothly.

As your §3(16) fiduciary administrator, we’ll also take over the following responsibilities: complete/sign/submit Form 5500 on your behalf, sign plan amendments on your behalf, manage payroll data, track plan eligibility, manage/communicate eligibility and enrollment, and approve distributions/loans/QDROs. With Applied Business Solutions, you can rest assured that your plan is in compliance, and your liability is limited.

At Applied Business Solutions, we believe that retirement planning should be simple, transparent, and easy to understand. That’s why we offer numerous low-cost investment options, flexible billing and payroll options, and one point of contact for everything. No call centers, no confusion – just personalized service from experts who care.

In addition to these services, here are a few key pointers for retirement planning:

  • Start early: Time is your most significant asset when it comes to retirement planning. The earlier you start, the more time you have to grow your savings.
  • Stick to a budget: Tracking your expenses can help you stay on track to meet your retirement goals.
  • Maximize contributions: Take full advantage of your employer’s 401(k) matching contributions. It’s free money, and it can significantly boost your retirement savings.
  • Diversify investments: Diversification is key to minimizing risk and maximizing returns. Don’t put all your eggs in one basket.
  • Stay healthy: Maintaining good health can reduce healthcare costs and allow you to continue working longer if needed.
  • Plan for inflation: Inflation can erode your retirement savings over time, so plan for it by investing in inflation-protected securities.
  • Review your retirement plan regularly: Make sure your retirement plan is on track by reviewing it regularly and adjusting as necessary.
  • Stay informed: Stay up to date on changes to retirement laws and regulations that may affect your retirement savings.

If you’re interested in learning more about our retirement planning services or want to get started today, don’t hesitate to contact our specialized team at Applied Business Solutions. We’re here to help you plan for a comfortable and worry-free retirement.

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Applied Business Solutions has 75+ years of combined Payroll, Insurance and Human Resources experience with companies ranging from 1 to 2,500 employees.