Castle Rock PEP

Castle Rock Blog
by Ryan McCarty, CFP®

Unnecessary Introduction of Starter 401(k)’s

In an era marked by continual changes in retirement planning options, the SECURE Act 2.0 has unveiled yet another choice for small businesses: the Starter 401(k). But with the concurrent existence of Pooled Employer Plans (PEPs), the need for this new plan is up for debate. Does the Starter 401(k) offer a unique advantage, or could PEPs deliver all the benefits and more? This blog dives into a detailed comparison of these options, revealing why PEPs could potentially render the Starter 401(k) unnecessary. Let’s explore this together.

An AI generated Capitol Buidling with money flying around it.

Mandatory Roth Catch-Up Contributions: Increasing Government Revenues

The recent passage of the SECURE Act 2.0 brings significant changes to retirement savings legislation, including a shift towards Roth contributions. These after-tax contributions grow tax-free, offering different tax implications compared to traditional pre-tax retirement accounts. With the aim of boosting federal revenue, the act mandates that high earners’ catch-up contributions be treated as Roth contributions from 2024. This article explores the implications of this provision, the differences between Roth and pre-tax accounts, and why understanding these changes is crucial for both taxpayers and plan sponsors in making informed decisions to optimize retirement savings.

Long-Term Part-Time Employees, like restaurant employees, are ready for improved benefits.

Long-Term Part-Time Employees: Secure 2.0

SECURE Act 2.0 introduces new provisions aimed at improving retirement savings options for long-term, part-time employees in the United States. This legislation expands eligibility for employer-sponsored retirement plans, such as 401(k)s, and enforces non-discrimination rules to ensure equal benefits for part-time workers. In this article, we’ll discuss the key provisions of SECURE 2.0, their implications for employers, and the necessary steps to achieve compliance. By understanding and implementing these changes, employers can foster a more inclusive retirement savings landscape and promote financial security for their diverse workforce.

Colorado State Flag Waving in the Breeze in the foreground with the US flag in the background.

Colorado Secure Savings Deadlines are coming: Opt out with our Pooled Employer Plan!

Today we highlight the importance of signing up for our pooled employer plan before Colorado’s Secure Savings Program deadlines. Inside we’ll emphasize the benefits for business owners, such as cost savings, streamlined administration, and reduced fiduciary risks. Additionally, we’ll touch on the secondary advantages for employees, including fostering loyalty and satisfaction. Don’t miss the deadlines: May 15th for businesses with 15-49 employees and June 30th for those with 5-14 employees. Secure your business’s future and enhance employee well-being today.

Strategies to Maximize Your 401(k): Reach the Peak of Retirement Savings!

Maximize your 401(k) savings by understanding the three components of the maximum limit and employing key tactics such as prioritizing elective deferrals, leveraging employer matching programs, and utilizing after-tax contributions. Consistency, early action, and catch-up limits for those over 50 are crucial for success. Create a tailored plan that maximizes your 401(k) savings and achieves your retirement goals!

Key Tax Credits and Deductions for Small Business Owners Starting a Pooled Employer Plan (PEP)

Owners 🌟 – Do you want to be as excited as this woman at tax time?!

Explore the various tax credits, deductions, and benefits available when establishing a PEP for your small business. Learn how to maximize these financial opportunities, reduce taxable income, and provide a competitive retirement plan for your employees, leading to long-term success for your business 💼.

Maximizing Cash Savings with High-Yield Online Savings Accounts

Discover the secrets to maximizing your cash savings in our
latest blog post! 

We dive deep into the world of high-yield online bank
, revealing why they offer better interest rates compared to
traditional banks and how they can help you grow your wealth more effectively. 

Our comprehensive guide breaks down the benefits of online savings accounts,
offers practical tips on finding the perfect high-yield account for your needs,
and provides valuable advice for making the most of your hard-earned money

Don’t miss out on this opportunity to unlock the full potential of your cash
savings and secure your financial future. Read on to learn more!

Your Business Can Have the Retirement Plan You’ve Always Wanted

We know saving for retirement is crucial, so why do millions of Americans not have access to a retirement plan? 

For most employers without a plan, it’s a cost issue. Don’t you think the business owner wants to save money too? For others it might not be cost, it could be they fear the liability and the administration of the plan distracting from other business pursuits.

What if we could remove the financial and administrative burden?

It’s only been two years or so since the creation of the newest qualified plan on the block, the Pooled Employer Plan (PEP). Why is the new kid so great? Let’s find out…

Get your PEP questions answered without talking to anyone by getting the link to our video overview. Just provide an email below!