Choosing the Right Employer-Sponsored Plan for Your Business
In this episode of Financial Foundations, Dustin Taylor, Kyle Howell, and Alex Wolfe, CFP®, sit down with retirement plan specialist Marc Piccirillo to unpack how employer-sponsored plans really work behind the scenes. If you are a business owner wondering whether you should offer a 401(k), a SIMPLE IRA, or something else entirely, this conversation walks through the practical tradeoffs, the hidden responsibilities, and the incentives you might be leaving on the table.
Marc explains how plan sponsors, recordkeepers, and third-party administrators all fit together, why recent legislation has made it easier and cheaper to start a plan, and how offering the right benefits can help you become an "employer of choice" and even make your business more attractive at sale.
In this episode, you'll learn:
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What "employer-sponsored plan" actually means and how 401(k), 403(b), and SIMPLE IRA plans differ
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The key responsibilities and risks a plan sponsor takes on
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How recordkeepers and TPAs support the day-to-day administration of a plan
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How Secure Act changes and state-mandated plans are reshaping the retirement landscape for employers
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When it makes sense to move from a SIMPLE or SEP IRA to a 401(k) as your business grows
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Why starting something now, even at low contribution levels, can be more important than waiting for the "perfect" plan
Guest: Marc Piccirillo, retirement plan specialist focused on employer-sponsored plans for small and mid-sized businesses.
Resources and contact: Visit basewealthmanagement.com for more articles, videos, and podcast episodes. Send your questions or episode ideas to [email protected] to be featured in a future episode.
Disclosures:
Investment advisory services provided by Base Wealth Management, LLC doing business as Base Wealth Management, as a registered investment advisor. Base Wealth Management is an SEC-registered investment adviser and offers advisory services in jurisdictions where it is properly registered, notice-filed, or otherwise exempt from registration requirements. Base Wealth Management renders individualized responses to persons in a particular state only after complying with applicable SEC and state regulatory requirements or pursuant to an applicable exemption or exclusion. Registration with the SEC does not imply a certain level of skill or training.
Different types of investments involve varying degrees of risk, including the potential loss of principal. Past performance is not indicative of future results, and there can be no assurance that any investment strategy will be successful. There is no guarantee that any portfolio will achieve its investment objectives or outperform any benchmark or index.
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BASE WEALTH MANAGEMENT is an SEC-registered investment adviser and offers advisory services in jurisdictions where it is properly registered, notice-filed, or otherwise exempt from registration requirements. Base Wealth Management renders individualized responses to persons in a particular state only after complying with applicable SEC and state regulatory requirements or pursuant to an applicable exemption or exclusion. Registration with the SEC does not imply a certain level of skill or training. Different types of investments involve varying degrees of risk, including the potential loss of principal. Past performance is not indicative of future results, and there can be no assurance that any investment strategy will be successful. There is no guarantee that any portfolio will achieve its investment objectives or outperform any benchmark or index.
Different types of investments involve varying degrees of risk including the potential loss of the entire principal invested. Past performance is no guarantee of future results and there can be no assurance that any specific investment will be profitable. There are also no assurances that any portfolio will match or outperform a particular benchmark or index.
This material is provided for informational and educational purposes only and does not constitute investment advice or a recommendation to buy or sell any security. It does not constitute tax or legal advice. References to market indices are for context only. Consult a qualified financial professional before making any financial decisions.
BASE WEALTH MANAGEMENT does not represent, warranty, or imply that the services or methods of analysis employed by the firm can or will successfully identify market tops or bottoms, or insulate clients from losses due to market corrections or declines.
BASE WEALTH MANAGEMENT will provide all prospective clients with a copy of our current and prior to commencing an Advisory relationship. Existing clients will receive a copy of these documents on an annual basis. A copy of our current ADV Part 2 Brochure is available at adviserinfo.sec.gov.
The Retirement Reality Check is an educational tool intended to help individuals identify areas that may warrant further planning discussion. It is not a financial plan, investment recommendation, or guarantee of retirement readiness.
Statistics cited on this page are drawn from third-party research and are provided for general educational context only. Individual circumstances will vary. 1,2,5 Employee Benefit Research Institute (EBRI), 2023 Retirement Confidence Survey. ebri.org. 3 Federal Reserve, Report on the Economic Well-Being of U.S. Households (2023). federalreserve.gov. 4 Federal Reserve, Survey of Consumer Finances (2022). 5 Vanguard, How America Saves (2023); National Institute on Retirement Security, Retirement Insecurity 2024.
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