19
Intuit 401(k) Webinar October 12 th , 2011 Presenter: Chad Parks | CEO | The Online 401(k) Powered by

Intuit 401K webinar handout

Embed Size (px)

DESCRIPTION

Why the Recession and Current Market Volatility Make 401(k) the Smartest Investment Option in the Long Run Sign up for this free Intuit 401(k) hosted webinar featuring Chad Parks, CEO of The Online 401(k)! Discussing everything from fee disclosure to tax credits for small businesses, employee retention, and more, Chad will showcase why 401(k) is still the smartest retirement benefit for businesses of all sizes, even during tough economic times. This webinar is also ideal if you are an accountant who recommends 401(k) to your clients.

Citation preview

Page 1: Intuit 401K webinar handout

Intuit 401(k) Webinar

October 12th, 2011

Presenter: Chad Parks | CEO | The Online 401(k)

Powered by

Page 2: Intuit 401K webinar handout

Intuit Proprietary & Confidential

Help us spread the word!

• To post a tweet during the webinar, follow these simple steps:

• Use the hashtag “#intuit401k” in each of your tweets.

This will categorize those Tweets to show more easily in Twitter Search. You can include the hashtag anywhere in the tweet.

Learning about 401(k) plans offered by @Intuit. Very interesting! #intuit401k

Did you know @Intuit offers 401k plans? #intuit401k

Learning about the importance of 401k plans even in a down market.#intuit401k

Sample Tweets

Page 3: Intuit 401K webinar handout

Building a Better Business with 401(k) Why the Recession and Current Market Volatility Make

401(k) the Smartest Investment Option in the Long Run

October 12th, 2011

Chad Parks | CEO | The Online 401(k)

Powered by

Page 4: Intuit 401K webinar handout

Intuit Proprietary & Confidential 4

Brief history: The Online 401(k)®

The Online 401(k)® was founded in 1999 by a Certified Financial Planner who saw an enormous need in the small business retirement savings area.

Our business model has always been a flat fee for service model—we do not charge asset based fees for the work that we do, so you always know what you are paying.

Powered by

Page 5: Intuit 401K webinar handout

Intuit Proprietary & Confidential 5

The Recession Is Taking Its Toll

Powered by

•Your home is not your retirement plan!

•What used to be:

–Company Pension Plan

–Social Security

•What was supposed to be the “Three Legged Stool” of retirement since 1984:

–Pension

–Social Security

–401(k) Savings

Page 6: Intuit 401K webinar handout

Intuit Proprietary & Confidential 6

What has retirement become?

Powered by

•Pensions: Shutting down

•Social Security: Delayed and diminished benefits

•401(k): If you are lucky enough to have one!

We are collectively down to a 1½ legged stool and many don’t even have one leg!

Welcome to the new economy. We are not powerless!

Page 7: Intuit 401K webinar handout

Intuit Proprietary & Confidential 7

Points to consider

Powered by

•92% of businesses with 2-20 employees do not offer any kind of retirement savings at work (Source: US Census)

•Employees who have worked for large companies expect similar benefits

– Attract

– Retain

•A retirement plan costs much less than a health plan to implement and maintain and is considered a benefit by employees

Page 8: Intuit 401K webinar handout

Intuit Proprietary & Confidential 8

What’s available?

Powered by

A variety of personal retirement savings vehicles are available:

• IRA’s: Underutilized

•SIMPLE’s: Misunderstood and expensive with mandatory contributions

•401(k)’s: Have evolved to be available to everyone and are very cost effective!

Page 9: Intuit 401K webinar handout

Intuit Proprietary & Confidential 9

Common misperception #1

Powered by

401(k) requires an employer contribution (match)

• For many other plans, YES. But for Intuit 401(k) this is completely optional (often called Safe Harbor Match)

• Ironically, an often recommended substitute to a 401(k) called a SIMPLE does require a match and has lower overall saving limits!

Page 10: Intuit 401K webinar handout

Intuit Proprietary & Confidential 10

Common misperception #2

Powered by

401(k)’s are expensive

•Yesteryear, yes they were

•Today, a complete turnkey 401(k) will start at $75 per month to the company

Page 11: Intuit 401K webinar handout

Intuit Proprietary & Confidential 11

Common misperception #3

Powered by

401(k)’s are for BIG businesses

•Now more than ever, it’s important that small businesses have these available to them and their employees

AND THEY DO!

Page 12: Intuit 401K webinar handout

Intuit Proprietary & Confidential 12

So you think a 401(k) is complicated?

Powered by

They can be, but like the Wizard of Oz behind the curtain, it really ISN’T.

With Intuit 401(k), everything is taken care of:

• Administration (Documents, 5500, 1099’s, testing, etc.)

• Recordkeeping (who owns what, trade processing)

• Access to investments and advice (via Morningstar)

• Education (for employees saving in the plan via the website

• Customer service (via the web, phone, and soon chat)

Page 13: Intuit 401K webinar handout

Intuit Proprietary & Confidential 13

401(k): ALL INCENTIVES

Powered by

•$500/year tax CREDIT for the first three years to offset your startup and ongoing expenses

•Plan expenses are fully tax deductible to the company

•You and your employees save real tax dollars and can divert those savings into your retirement!

Page 14: Intuit 401K webinar handout

Intuit Proprietary & Confidential 14

What about investments?

Powered by

Traditionally, this has been the most discussed area

• Advisors, brokers, and others helped in this area

• These groups DID NOT want to work with small plans due to small dollar amounts

Enter Morningstar who provides:

• Employer-level guidance, fund selection and monitoring, and while accepting ALL RISK for this!

• Employee risk tolerance questionnaire and portfolio recommendation and management

Page 15: Intuit 401K webinar handout

Intuit Proprietary & Confidential 15

Volatility – Scary, Yes

Powered by

•Unlike retail investing, your 401(k) benefits from volatility by:

– Dollar cost averaging your investments

– Yielding a better outcome by buying steadily into the market during the ups and downs

– The discipline of saving regularly with every paycheck does pay off

– Through the 401(k) you have access to professional money managers

– You are your own worst enemy, panic selling is less likely if you have a professional helping you

– By default, your 401(k) savings is meant to be for the long-term, less access makes it easier to ride out the volatility

Page 16: Intuit 401K webinar handout

Intuit Proprietary & Confidential 16

Still wondering if you should invest?

Powered by

Remember: A 401(k) is both a savings AND investments vehicle. Save for sure, invest only if you want.

And now more than ever, personal savings is the key to your own economic future!

Page 17: Intuit 401K webinar handout

Intuit Proprietary & Confidential 17

Transparency. It’s the new black.

Powered by

Fee disclosure:

• To the employer offering the plan

• To the employees saving money in the plan

The real benefit is you will now know what you are paying for in REAL dollars for:

• The administration and recordkeeping

• The plan investments

• The sales and marketing costs of the plan

Page 18: Intuit 401K webinar handout

Intuit Proprietary & Confidential 18

Can you afford NOT to do it?

Powered by

Consider the following:

• Tax credits

• Tax deductible

• Tax deferred savings

• Extremely affordable to implement and run

• Social Security won’t cut it

• Your future is up to you

And we’re here to help!

Page 19: Intuit 401K webinar handout

Intuit Proprietary & Confidential 19

THANK YOU!

Powered by

Questions?