The Fundametrics® reserach process is our proprietary computer-based research system, which screens our universe of stocks and decile ranks them according to specific valuation criteria.
Small business retirement plans are a great way to reduce corporate tax bills and help owners and employees plan for the future. One size does not fit all when it comes to retirement plans and CornerCap will help owners evaluate and setup a retirement plan that best meets their goals.
We can also provide an analysis for existing retirement plans and offer alternatives.
Through our partnerships with plan administrators, we will work with the corporation’s employee census to determine which plan will maximize the owner benefit while meeting the IRS’s discrimination rules.
Key Factors to Consider
When setting up a retirement plan, we have found that the primary decisions owners need to consider are:
- How much money can the corporation contribute to a retirement plan annually?
- Do I want the company's contributions to be discretionary?
- Do I want to provide an employer matching contribution?
- What will be the vesting schedule?
- What types of employees are eligible?
- Will my plan pass IRS nondiscrimination testing?
Types of plans
- 401(k) safe harbor
- Roth 401(k)
- Solo 401 (k)
- Profit Sharing
- New Comparability
- Defined Benefit
- Cash Balance
CornerCap is not a broker dealer and we do not custody assets. Plans that we manage will have daily account values viewable online, and investment elections for existing balances and future contributions can be viewed and modified online as well.
CornerCap serves as an advisor to the plan and will provide a mutual fund lineup consisting of low cost index funds, actively managed funds and retirement date funds. Our fund lineup includes multiple asset classes that perform well during different economic environments. This allows clients to create diversified portfolios or let CornerCap choose the asset allocation by picking one of the retirement date funds.
We will meet with employees to provide details of the new plans and to answer questions. Each meeting will include education about investments and risk profiles, but also about the importance of planning for the future. We provide new enrollees with simple and detailed worksheets to help them think through how much they need to save each month to meet their retirement goals.