Planning for retirement is one of the most important steps a business can take to support its employees. At Benefit Equity Inc. (BEI), we have extensive experience in helping businesses design and administer retirement plans that meet the specific needs of both employers and employees. A well-designed retirement plan is not only a valuable benefit that can attract and retain top talent, it also provides employees with the confidence and security they need for their future.

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The Internal Revenue Service (IRS) has announced the 2025 Cost of Living Adjustments (COLAs) for employer-sponsored retirement plans and IRAs. The adjustments update maximum benefits, compensation that can be considered for benefits, and contribution limitations.

These limitations must be followed by law, or retirement plans will be considered non-compliant. Please reach out to your BEI retirement plan consultant for additional information and/or clarification.

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Here's Why Benefits for Part-Timers Could Be Your Secret Weapon to Stop Top Talent Drain

You're at the helm of a small or medium-sized business in Southern California. To say the environment for keeping a business profitable, healthy, and attractive to top talent is tough is an understatement. And if you hope that offering retirement and healthcare plans to part-time employees is easy, you are going to need expert help with a strong dose of experience. The requirements, the costs, the compliance hoops—it's a lot to manage alone. You're probably sensing that ignoring these challenges could mean missing out on some big opportunities such as loyal workers, peace of mind, and keeping those talented folks right where they belong—on your team. So let’s demystify this with some clarity and figure out what works for your business.

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Now, thanks to the SECURE 2.0 Act, there's a new opportunity for employees who are burdened with student loans. Starting with plan years beginning in 2024, employers can choose to make matching contributions to their retirement plan on behalf of employees who are making student loan payments, treating those payments as if they were salary deferrals.

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A Retirement Plan Design Isn't Just About Checking Boxes

What is your company’s current approach to providing a great retirement plan that benefits both your employees and your company’s bottom line? When it comes to securing the financial future of your employees and ensuring the success of your business, the design of your retirement plan plays a critical role. A well-thought-out retirement plan can attract and retain top talent, reduce employee turnover, and enhance overall job satisfaction. At the heart of a successful retirement plan is the alignment of the plan’s design with your company’s goals, balanced with the needs of your employees.

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