Call Us Now
562-806-0778

Small Business Retirement Plans in Downey CA & Los Angeles CA

Offering a retirement plan for your employees could be one of the best things you'll do for your small business. The benefits aren't just in the future, either—as pointed out by the Department of Labor, starting a retirement plan offers immediate tax benefits in the form of deductibles, deferred taxation, and tax-free growth. Small employers can also usually take advantage of available tax credits that help offset the creation and administration of their plan, making it both easy and affordable to get started.

Types of Small Business Retirement Plans

If you're going to start offering small business retirement plans, you need to decide what type of plan(s) are actually going to be offered. There are a few different choices, each with their own advantages for different types of business owners.

401(k) Plans

A 401(k) plan—named after its designation by the IRS—is a special type of retirement account that allows employees to contribute some of their earnings into a savings plan. The three main forms of 401(k) plans available are Safe Harbor, Automatic Enrollment, and Traditional, all of which have important differences for small businesses. We encourage talking to a certified financial professional prior to selecting a plan in order to ensure that it's right for your company's needs, both now and in the future.

*Federal income tax laws are complex and subject to change. Neither Nationwide nor its representatives give legal or tax advice. Please consult your attorney or tax advisor for answers to specific questions. 

Profit Sharing Plans

If your company's income is variable, you can opt for what's known as a "profit sharing plan." These plans accept contributions at the discretion of employers, and typically do not require a certain amount of contributions each year. This is especially useful for startups, who may not have funds to spare as they work to establish themselves and deal with the challenges of creating a new business.

While all plans are required to file a Form 5500 each year to report their performance, the plans are accepted for businesses of any size and can even be used by companies that have other retirement plans in place. A The Point Insurance Services Inc. agents would be happy to discuss these and other options with you.

Guarantees and protections are subject to the claims paying ability of the issuing insurance company.

1. "Choosing a Retirement Solution for Your Small Business." Accessed April 12, 2016. http://www.dol.gov/ebsa/publications/choosing.html.

2. "Form 5500 Corner." Accessed April 12, 2016. https://www.irs.gov/Retirement-Plans/Form-5500-Corner.

Our Location

The Point Insurance Services Inc.

10535 Paramount Blvd, Ste 100
Downey, CA 90241
Main office: 562-806-0778

Our Providers

Testimonials

Great customer service! Typically my experience when looking for insurance is hectic and unsavory, this definitely wasn't the case with the point! Their amazing agents and vast amount of insurance companies made getting me the best deal on my home and auto insurance a breeze!
Stacey T.
So I hate asking about insurance because it's boring and confusing; however, I called the point earlier today to ask about their renter's insurance and not only were they pretty knowledgeable, it wasn't a confusing long drawn out process. They are A-OK. Insurance is still pretty boring but at least I know where to call!
Ana A.
I love being able to call and talk to someone right away when I have questions. Mike already knows me, so every time I call we have a chance to check in. It's nice to know I'm in good hands when I need help with something. :)
Kelley O.
The best choice I made was to find this place while searching to insure my new car. Completely satisfied even took to me in right away and they were close to closing time without feeling rushed. Gustavo helped me find the best offer for me insurance wise. Thank you and will definitely come back and refer people here. Very professional and helpful!
Anabel A.