For Businesses
Help your employees build lasting financial security while strengthening your ability to attract and retain top talent — with tax-advantaged retirement plans designed for small and mid-sized businesses.
Overview
A retirement plan is one of the most valued benefits an employer can offer, and one of the most effective tools for building a workforce that stays. Group retirement plans allow employees to save for retirement through convenient payroll deductions while giving employers meaningful leverage in recruiting conversations and a compelling reason for top performers to remain with the organization long-term.
Schroder Financial works with businesses across the Omaha metro to design and implement retirement solutions that fit the company's goals, workforce demographics, and budget. The right plan structure depends on factors including company size, ownership profile, desired employer contribution flexibility, and whether the owner wants to maximize their own tax-advantaged savings as a participant.
Plan options may include traditional 401(k) plans, Safe Harbor 401(k) plans, SIMPLE IRAs, SEP IRAs, and Multiple Employer Plans (MEAPs) available through chamber membership. Each has distinct contribution limits, matching requirements, and administrative considerations. Michael helps business owners cut through the complexity and select and implement the plan that fits their situation, then provides ongoing guidance as the business and regulatory environment evolve.
The SECURE 2.0 Act introduced significant tax credits for small businesses establishing new retirement plans. These credits can substantially offset plan setup and administrative costs in the early years, making now an especially favorable time for small businesses to add a group retirement benefit. Consult a qualified tax advisor for guidance specific to your business situation.
Key Benefits
Strengthen Recruitment & Retention
A 401(k) with employer matching is consistently ranked among the most valued employee benefits. Offering it sets your business apart from competitors who don’t, and gives employees a tangible reason to stay.
Tax Deductions for Employer Contributions
Employer matching contributions to a qualified retirement plan are generally tax-deductible, reducing your business’s taxable income while building genuine employee goodwill and long-term loyalty.
Pre-Tax Savings for Employees
Employee contributions reduce current taxable income, providing immediate tax value alongside long-term retirement savings, a benefit employees can see reflected in their take-home pay calculations from day one.
Owner Participation & Wealth Building
Business owners participate in the plan themselves and can make significant pre-tax contributions on their own behalf, often making a group retirement plan one of the owner’s most powerful personal wealth-building tools.
Flexible Plan Design
Vesting schedules, matching formulas, auto-enrollment features, and Roth contribution options can all be structured to align with your workforce demographics, cash flow, and business objectives.
Ongoing Plan Guidance
Michael provides ongoing support beyond the initial setup, assisting with employee enrollment, annual compliance considerations, and plan reviews as your business grows and regulations change.
Who It's For
Businesses Adding a Retirement Benefit for the First Time
If your company has reached a size where employees are asking about retirement benefits — or where you are losing candidates to competitors who offer them, Michael can help you select and implement the right plan structure and get it running efficiently.
Business Owners Who Want to Maximize Their Own Retirement Savings
A well-structured group retirement plan can allow business owners to shelter significantly more income from current taxes than individual IRAs permit. Safe Harbor 401(k) plans, in particular, are often designed with the owner’s participation goals as the primary consideration.
Employers Competing for Skilled Workers in the Omaha Metro
In a tight labor market, the presence or absence of a retirement benefit with employer matching can be a deciding factor for candidates weighing multiple offers. A group 401(k) positions your business as a serious employer that invests in its people’s futures.
Chamber Member Businesses Exploring MEAP Options
Greater Omaha Chamber and Sarpy Chamber members may have access to Multiple Employer Plan options through MEAP programs that provide streamlined retirement plan access for small businesses at competitive terms.
Common Questions
A traditional 401(k) requires annual non-discrimination testing to ensure the plan doesn’t disproportionately benefit highly compensated employees, including business owners. If the plan fails testing, highly compensated employees may have contributions returned to them. A Safe Harbor 401(k) avoids this by requiring the employer to make a minimum contribution for all eligible employees. In exchange, the plan is automatically deemed to pass non-discrimination testing, which allows owners and executives to maximize their own contributions without restriction.
For 2024, the employee elective deferral limit is $23,000 (plus a $7,500 catch-up contribution for those age 50 and older). When employer contributions are included, total contributions to the plan can be up to $69,000 per participant annually (before catch-up). For business owners, combining employee deferrals and employer profit-sharing contributions can create significant annual tax-advantaged savings, far exceeding what a traditional or Roth IRA allows. Consult a qualified tax advisor for limits and guidance specific to your situation.
Yes. The SECURE 2.0 Act, signed into law in late 2022, expanded tax credits available to small businesses establishing new retirement plans. Eligible businesses may receive a credit of up to $5,000 per year for the first three years of a new plan to offset administrative costs, plus an additional credit for employer contributions. These credits can substantially reduce the net cost of setting up and running a retirement plan in the early years. A qualified tax advisor can assess your specific eligibility and the credit amounts applicable to your situation.
A SIMPLE IRA is available to businesses with 100 or fewer employees and has a lower administrative burden than a 401(k), there are no annual discrimination testing requirements and the plan setup is straightforward. However, contribution limits are lower than a 401(k), and employers are required to make either a 2% non-elective contribution for all eligible employees or a 3% matching contribution. For businesses that want simplicity and are comfortable with mandatory contributions, a SIMPLE IRA can be a practical starting point. As the business grows or the owner’s savings goals increase, transitioning to a 401(k) may become advantageous.
Related Services
Group Employee Benefits
Group health, dental, vision, disability, and life insurance plans that round out a comprehensive benefits package for your employees.
Learn More →Disability Insurance
Short- and long-term group disability coverage protects employees’ incomes if illness or injury keeps them out of work — a natural complement to any retirement benefit.
Learn More →Investments and Wealth Management
Beyond the group plan, Michael can help you as a business owner build a personal retirement strategy that extends beyond what the group plan alone provides.
Learn More & Enroll →Schedule a free consultation with Michael to explore which retirement plan structure fits your business goals, employee demographics, and budget — and take advantage of available tax credits before the enrollment window closes.
