Two business owners, Jim and Bob, met for lunch.
“Very cool how you’ve grown your company so fast,” said Bob. “Seventy-five employees! You had what—five—just a year ago?”
“Thanks,” said Jim, “But that growth comes with a cost. Our retirement plan used to get us over $300K in deductions with minimal staff contributions.Then we got big and we had to scale back our contributions to keep the costs under control—and that means decreased retirement benefits for me and my partners.”
“Well,” said Bob. “We have some big deals on the table and it looks like we might be following you down that road of rapid growth. With that in mind, I talked to our Retirement Plan Consultant and he offered us some options.”
“Interesting,” said Jim. “Tell me more.”
“As my consultant explained it to me, a one-size-fits-all plan is limiting. Larger benefits are possible with smaller contributions. What works for smaller companies can actually work for a larger company … if you work with someone who knows how to set it up.”
Jim stirred his coffee. “I had no idea. Can you…?”
“Of course,” said Bob. “Here’s the phone number you’re looking for.”
If you’ve outgrown the advantages of your original company retirement plan, ask the experts at CRS how to recover your small plan benefits.