As a business owner, you know the value of a loyal and dedicated employee. What better way to invest in your most important assets than a profit sharing benefit plan? EASI can help you develop, implement, and administer your employee profit-sharing plans with a focus on rewarding your employees while reaching your company’s financial and business goals. As your business grows, both your business and employees will be rewarded for the hard work that contributed to the success of your business.
Profit-sharing plans are generous retirement options for companies looking to give back. In a deferred profit-sharing plan (DPSP), employees receive a percentage of the company’s earnings based on quarterly or annual profits.
When we talk about employee benefits and retirement plans, it’s not just your employees who will be rewarded. Your business and its growth are also an important factor in how things work out for the two parties involved. EASI has a lot of experience with these arrangements so that you can make sure to have all benefits covered without too much stress on one side or another. There are a ton of benefits for employers who offer profit sharing plans!
Worker Loyalty and Increased Productivity
We know that you strive to maintain employee satisfaction and keep them financially secure, which is best done through guidance toward their retirement goals. Employees who feel valued, secure, and provided for tend to be more productive and loyal. Ultimately, by offering the best profit sharing options, the employees and company alike will prosper.
Attract Top Applicants
When you offer the best profit sharing incentive plans, you’ll not only demonstrate your dedication to your greatest assets but you’ll also attract top talent employees with good benefits.
Tax Benefits for Your Business
How are profit sharing plans taxed? Employee contributions through profit sharing plans can be counted as a tax deduction for your company. Additionally, all contributions to a profit sharing plan are only taxed upon distribution in employee retirement. By implementing a 401(k) profit sharing plan you’ll save on business taxes.
By outsourcing profit sharing plans in Mississippi with EASI, you have a single point of contact for your employees’ retirement planning needs along with every aspect of employee benefits. This shifts the burden away from you, freeing up your time and resources for other business responsibilities.
When you outsource profit sharing administration, you don’t have to stress about staying current on profit-sharing plan distribution rules, laws about profit sharing plans after leaving company, profit sharing tax rates, or any related administration issues. We take care of it all for you!
EASI provides a thorough understanding of employee benefit plans and seeks to offer the most efficient plan for your employees. We share examples of profit sharing incentive plans and together we’ll assess which types of profit sharing plans might work best for your specific business model and employee needs. By working with EASI, you can ensure that all aspects of an effective employee retirement program are met in order to maintain morale, productivity, and competitiveness.
In the business world, long hours and hard work are worth it! EASI will make sure your employees’ dedication doesn’t go unrewarded with the development, implementation, and administration of employee profit-sharing plans that reward both you as a business owner and company success.
One of the best third party administrator 401k companies is right around the corner in Mississippi! EASI proudly serves the Mississippi areas of Jackson, Ridgeland, Madison, Brandon, Flowood, Clinton, Richland, Byram, Yazoo, and more as a top rated 401k outsourcing company. We offer our benefit and profit sharing administration services in Mississippi to businesses of all types and sizes. Call or click today to see how we can help propel your business to the next level!