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Investor Insights Blog

Choosing a Small Business Retirement Plan That Will Make Your Employees Happy

June 19, 2020

Tips on rolling out the new plan to employees 

As with any new benefit option or change in the status quo, communication and training are the keys to success. 

Explain the new plan in a company-wide email 

Tell your employees why you’ve decided to offer a retirement plan and lay out the particulars. Include all of the information and the particulars, including their contributions, how it all works before or after taxes, when they will be vetted, how much you’re going to contribute and anything else about the plan they need to know. 

Call a company meeting 

Sit down either in person or virtually with all of your employees and reiterate the information in your email, giving people time to bring up any questions they may have. Ask the financial pro who is administering your plan to be the person running this meeting. He or she will be armed with answers to all of your employees’ questions. 

Explain any paperwork 

Your employees will have to fill out paperwork to join the plan. Make it as easy as you can for them to sign on the dotted line, walking them through the process if necessary. 

Before instituting a retirement plan, be sure to talk with a financial professional. At Equity Trust, we’re here to help with your account related questions. For more information, download our free Guide to Small Business Retirement Plans. 

Download Small Business Plan Guide

Yes. A self-directed IRA gives you the ability to diversify your portfolio with additional investments that are permitted by the IRS, in a tax-free or tax-deferred environment.

After you open your account with Equity Trust, the first step of transferring your funds involves contacting your current custodian regarding the transfer. If you don’t have that information, an Equity Trust specialist can contact your current custodian while you are on the line. If the current custodian requires Equity Trust to initiate the transfer process, you must complete and submit an Equity Trust Transfer From along with a recent statement from your current custodian. The Transfer Form can be submitted when opening your account at Equity Trust, or any time thereafter. You must include a Medallion Signature Guarantee Stamp. Once the Transfer Form has been received, Equity Trust will sign and submit the form to the transferring custodian.

Some of the investments Equity Trust clients make using their self-directed accounts include real estate, tax liens, digital currencies such as Bitcoin, private lending, purchasing notes, private placements, precious metals, forex and other investment options that are permissible under IRS guidelines.


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