Employee Benefits
Taking you from complexity, to clarity.
Business owners and corporate executives are often looking for ways to attract and retain talent, and ultimately drive profits. Being profitable allows entrepreneurs to reinvest in their businesses and create value, hoping the cycle continues. There are many ways for employers to create a great culture and motivate their employees. MGFS helps business owners with important financial and legal decisions and the implementation of group benefits – broadly encompassing insurance and investment plans that benefit their employees. In return, employers benefit as well.
Group Insurance Arrangements
To be competitive, employers offer employee benefits. It is important to have a happy, healthy, and motivated workforce. A thoughtful benefits package can start with a paid vacation plan, flexible hours, remote work, and provide some forms of group insurance – health, dental, vision, group life, disability insurance and more. Even lesser-known group 529 plans are available. Such benefits make a meaningful impact on employees’ and their families at unique and different points in their lives. Benefits can help with daily needs and be structured to create financial incentives and long-term employment security.
Uniquely, offering such benefits can help employer’s with gross revenue generation and net revenue maximization. As an example, both employees and employers may pay for some benefits on a pre-income tax basis.
Retirement
Plans
Employer-sponsored retirement plans are a great way to strengthen the relationship between employers and their employees, as with group insurance and other benefits listed above. In contrast with individual retirement accounts (IRAs), ERISA and Non-ERISA employer-sponsored retirement plans offer higher annual contribution limits and ease of contribution through payroll. Employees can experience both peace of mind and increased savings for their future. As the quality and quantity of company benefits increase, so does the perception of the employer’s goodwill!
Retirement plans are not “one-size-fits-all” and require considerable thought, attention, and maintenance to be effective. Whether it is a SIMPLE IRA, SEP-IRA, 401(k), Profit-Sharing Plan, or a pension plan, MGFS provides guidance and ongoing support to make a difference with this significant business investment.