For employers who have taken on the responsibility of offering sponsored retirement plans such as 401(k), profit sharing, or defined benefit plans, the task is not as simple as just presenting the plan. They need to gather extensive employee census information yearly, and one term that frequently comes up in these discussions is “Highly Compensated Employee” or HCE. But what does being an HCE mean, and why is it important to understand this classification?
As professionals, managing our own finances can be a challenge. However, one area that we often overlook, yet is vitally important, is understanding and navigating our aging parents’ finances.
September 20, 2023 We’ve had great success taking the CALFP proposition on the road. Explaining why we are different at a ‘Taste of Palm Springs’ colleagues Simon Hobbs and David Barr signed up many new prospective clients.
If you’re like most people, you bought life insurance to provide for your loved ones in the event of your death. But because you’re self-employed, you may have an even greater need for life insurance: You’ll want to protect your family after you die, as well as protect the financial needs of your business.
Regardless of the business’s size, small business owners have 401(k) retirement savings plan options that may be suitable for their situation. Business owners must plan for retirement by utilizing retirement savings vehicles that may provide them with common IRS tax savings incentives when funding specific 401(k) options.