Inova Payroll’s 401(k) plans are specifically designed to help businesses reduce or defer costs, maximize retirement wealth and gain tax savings advantages.
In today’s economy, many companies are faced with the difficult decision of cutting costs, as they strive to attract and retain the best employees by offering great benefits such as 401(k) plans. Most small to medium sized businesses do not understand that with a well-designed 401(k) plan, they can maximize owner and employee tax savings and retirement wealth, without paying huge administrative or employee costs.
To better serve its rapidly expanding family of payroll and HR clients, Inova Payroll has formed a strategic partnership with DCM Financial Partners Ltd. to offer customized 401(k) plans. Farsheed Ferdowsi, President and CEO of Inova Payroll, said, “DCM brings more than 20 years of experience in design, consultation and management of 401(k) solutions for a diverse group of clients ranging in size from small businesses to large companies with hundreds of eligible participants. This partnership enables us to provide well-designed, scalable 401(k) plans to help our clients offer cost-effective, retirement benefits for their employees, as well as to maximize owner contributions for the future. ”
While there are many creative and flexible options available, most business owners are often presented with a single, inflexible plan. With a custom-tailored approach to plan design, there are tax and savings benefits to be enjoyed by both business owners and employee participants.
Communication to the employees and how they can benefit is key to the success of a 401(k) plan. Effective communication helps boost participation and makes sure the plan not only complies with, and takes full advantage of the complex and changing tax laws. Business owners and participants receive effective and timely consultation through personal meetings, webinars, and other communications. Plan participants have 24/7 access to an online forum at www.the401kcafe.com that includes tips, advice, FAQs, forms and other information to help them maximize their contributions and manage their personal retirement strategy.
About DCM Financial Partners, Ltd: In today’s economy, many companies are faced with the difficult decision of cutting costs, as they strive to attract and retain the best employees by offering great benefits such as 401K plans. Most small to medium sized businesses do not understand that with a well-designed 401(k) plan, they can maximize owner and employee tax savings and retirement wealth, without paying huge administrative or employee costs.
