Latest / Money In Motion with Klaas Financial / Providing Employer Savings Plan

Transcript

Providing Employer Savings Plan · Money In Motion with Klaas Financial

0:00
This is money in Motion with Class Financial, a fun and informative show designed
0:05
to help you get answers to all your retirement questions in one place. The
0:10
full lines are open right now for you here at the station. Telephone number
0:13
six O eight three two one thirteen ten. That's six O eight three two
0:17
one thirteen ten. Gets you on the other this morning with our retirement planning
0:20
professionals from Class Financial CJ, Class and Forrest Ross. Telephon number again to
0:25
get on the air six O eight three two one thirteen ten. That's three
0:28
two one thirteen ten. You can learn more about Class Financial on their website
0:32
Class financial dot com. That's k l as financial dot com. And the
0:37
telephone number six O eight four four two five six three seven. No charge
0:42
for the financial'll get to know your appointment at Class Financial. It is complimentary
0:45
to you again the telephone number six O eight four four two five six three
0:49
seven as mentioned joining us this morning our CJ and Forrest CJ. How you
0:53
doing today? I'm doing great? How are you, Sean doing fantastic?
0:56
Great to chat with you, Forrest, how are you doing this week?
0:58
Great to have you back, very good, Thank you very much. It's
1:00
good to talk to you. By the way, do either of you play
1:02
chess a little? I do a little bit with my son. We actually
1:06
have a chessboard that he had out last night, and so it's ironic you're
1:08
asking me of this because we played for a little bit last night, but
1:11
he got frustrated. If Forrest you play as well I do, my son
1:15
beats me regularly. Looking at the website claus Financial dot com, one of
1:22
the pictures that scrolls by as a kid all playing chess against I'm going to
1:26
guess, to guess his grandpa, and the expression on his face tells me
1:30
this kid's about to win this game because he is. He is very confident
1:34
in his next move. I don't know anything about chess, but he looks
1:38
like he's ready to win. So very cool. I get checked that out
1:41
at claus Financial dot com that's Klaas Financial dot com. While you're there,
1:45
also you get to know Claus Financial learn a little bit more about their separate
1:48
divisions. You can also sign up for the weekly market paulse newsletter, a
1:52
great snapshot of what's been going on the markets. Also linked to the most
1:55
recent podcast at claus Financial dot com. Don't for Good has always loved the
1:59
questions, love calls. We've had some great ones the past few weeks.
2:01
Left to keep that up, I'll get it to get on the air with
2:04
Forrest and CJS. Give us call six eight three two one thirteen ten.
2:07
That's three two one thirteen ten twl one over Class Financial six to eight,
2:10
four four two five six three seven. Don't forget no charge for the initial
2:14
get to no you appointment that Class Financial, It is complimentary to you.
2:16
This week we are going to talk to folks who maybe own a business and
2:22
of course have employees that they want to provide retirement benefits for. We'll get
2:25
some of the details on that in just a moment, and before we get
2:29
rolling on that conversation. One of the other great things we do on the
2:30
program is the Class Quiz Question the week a chance to win a fantastic prize.
2:36
This week's friends from Claus Financial that provided a twenty five dollar gift card
2:38
to wayfare tell you a bit later on how you can win that gift card
2:43
a little bit later on the program. A little tip though, typically if
2:45
you listen closely, the question and answer to the Class Quiz question league come
2:49
up during the program and before we get to this week's topic, let's take
2:52
a look back at last week's class quiz question the week, get the question
2:55
and the answer there. Also, yeah, thanks everyone for listening. I
3:00
hope you have fun with us like we do every week, and congrats to
3:04
our winner from last week. So the question last week was the average Social
3:08
Security benefit in the United States in twenty twenty three is about one thousand and
3:13
seven hundred and eighty two dollars per month. And we asked if that was
3:16
true or false, and our winner called in and said, true, that
3:22
is correct. That is the average social Security benefit in twenty twenty three.
3:25
And if you have any questions about social Security, we tend to hit on
3:29
that topic about every month or two. And so you can go back to
3:31
the podcast on our website from last week and listen to that show. And
3:35
also if you have a question now, we can always talk about anything retirement
3:38
related. We do have our retirement planning professionals from Clause Financial right here for
3:42
you right now at six three two one thirteen ten. It's three two one
3:45
thirteen ten and SCJ mentioned as well. You can listen back to the podcast
3:49
at claus Financial dot com. I know a lot of folks, you know,
3:51
in the mornings, we tend to be coming and going, and sometimes
3:53
you miss part of the program. You're like, oh goodness, I wish
3:55
I could have caught that, or you want to share it with your friends
3:58
and family, just head on over class financial dot com. So we are
4:01
going to talk about some ideas for folks who own a business and have employees
4:05
that they want to provide retirement benefits for. What can we learn there CJ.
4:12
Yeah, So every week our topics on Money in Motion typically are for
4:15
the benefit of individuals trying to find or kind of plan for their own retirements.
4:21
However, we do also realize that some of our listeners own companies and
4:26
are constantly in the throes of either creating or managing a retirement plan for employees
4:30
that not only is cognizant of costs for the employer, but also works to
4:34
incentivize the employees to stay with the company for hopefully years to come in the
4:39
future. So we understand there are both individuals and individuals who represent employers listening
4:45
to this show, and so today is going to be all dedicated to focusing
4:50
on those individuals who are employers and who are thinking about ways to benefit their
4:56
employees. So we have brought along for today Forrest Ross. He's our director
5:00
of retirement Plans and he can kind of talk in detail about some of these
5:06
options for employers. So Forrest, can you give us a starting point for
5:12
employers who are listening today about some important things to make sure they have in
5:15
place for their employees. Yeah, thanks CJ, and good morning everyone.
5:21
You know, for those people that are listening today that our business owners or
5:26
maybe at an executive level in your company. As a business owner, you
5:30
know, you're always trying to reward your employees for their hard work and time
5:35
and talents that they're giving to your company by offering them a competitive benefits package.
5:42
And usually a big part of that benefits package is going to be some
5:45
type of an employer sponsored retirement plan like a four oh one K. And
5:49
today we just want to talk about some important things that you'll want to consider
5:54
to offer a successful retirement plan to your employees. And the first thing that
5:59
I just want to tie chon is plan design. So plan design is when
6:02
we talk about that, we're really talking about the rules that are structuring the
6:08
retirement plan, like eligibility, employer contributions or distribution rules. And as you're
6:15
thinking about that as an employer, it's really important that you try to make
6:18
it as flexible as possible because you want it to fit with you and something
6:23
that works for you as the employer, but also something that really tries to
6:27
connect with your employees and gets them to engage with the plan. And research
6:31
has shown us that different types of eligibility rules or investment options, employer contributions
6:41
or distribution options can really have a big influence on how employees participate, how
6:47
much they participate, or how much they set actually save into the retirement plan.
6:53
And being flexible with these features is really important. And also just know
6:57
that you can change these plan design features as time goes on, as your
7:00
company grows, or as your needs might change as well. The second thing
7:04
that I want to touch on at this point is the cost of the retirement
7:10
plan. This is kind of a big question that we get from time to
7:13
time as well, and the question is who pays for the retirement plan And
7:17
the answer is typically the employee error will pay for the majority of the ministrative
7:23
expenses to operate the plan, and then the plan participants or the employees will
7:30
also bear some of the cost as well, like the investment cost depending on
7:32
what investment option they're picking within their retirement plan, or some of the other
7:38
fees and expenses. But it's really important that you spend some time thinking about
7:42
this to make sure that the fees are reasonable for the services that are being
7:47
provided to your plan. And also, I just want to note here at
7:50
this point that with some recent legislation, if you're thinking about starting a new
7:57
retirement plan for your employees, this new legislation now allows for tax credits for
8:03
the employee er that's establishing a new retirement plan after January first, twenty twenty
8:09
three. So that may encourage you to start a new plan if you're going
8:13
considering going down that road. Important stuff this morning talking with Forrest Ross and
8:18
cjke Loss. They are our retirement planning professionals from Class Financial talking this morning
8:24
about maybe you're a business owner looking for options for your employees when it comes
8:28
to retirement benefits and of course putting together that plan. Got some great information
8:31
so far. Don't forget, as always missed any part of the show.
8:35
You can always listen back at class financial dot com. That's Klaas Financial dot
8:39
Com telephone number six O eight four four two five six three seven. No
8:43
charge for that initial gets to no apployment at class. Financially, it is
8:46
complementary to you. And again their telephone number at the office six eight four
8:48
four two five six three seven. And to get on the air this morning
8:52
with CJ and Forrest, no phone number here at station six O eight three
8:56
two one thirteen ten. That's six O eight three two one team ten soil
9:00
for us. If I'm an employer, how much should I consider contributing to
9:03
that retirement plan. That's a really great question, and it's important that you
9:07
think about this also as an employer providing this benefit to your employees. But
9:13
really there's two different kind of options that you have in this area. If
9:20
you're an employer and if you're making employer contribution for the benefit of your employees.
9:26
One option is just to contribute a flat percentage for all participants in the
9:30
plan, whether they're participating in the plan with some of making some of their
9:33
own contributions or not. So with this particular option, if I'm the employer,
9:39
I might choose, as an example, to contribute three percent of the
9:43
gross wages for all the employees that are eligible to the plan, again,
9:48
whether they choose to participate or not. The other option is you can use
9:52
some type of a matching formula to really incentivize employees to try and make contributions
9:58
on their own. So with this arrangement, if I as the employer to
10:03
decide, all right, I'm going to match one hundred percent of the first
10:05
three percent that an employee might put into the retirement plan. Under that scenario,
10:11
the employees that participate in the plan and take put some of their own
10:16
contributions out of their own pay every week into the paper here into the plan,
10:22
then I, as the employer, am going to match that on a
10:26
dollar per dollar basis, like up to a three percent level. And again,
10:28
both of these are very flexible, so it's important that you give some
10:33
thought into this in terms of what works for you and your budget, is
10:37
the employer, but also so that you can really try to develop something that
10:41
works for your employees as well and incentivizes them to participate well and for us,
10:48
as you're talking about this, I know you and I have discussed quite
10:50
a few times that sometimes an employer will say, hey, I can't afford
10:54
to take three percent of gross wages and you know, put it into the
10:58
four oh one K for everybody. So first things first, it's not a
11:01
requirement. However, we would push back on that a little bit. I
11:03
believe we would say, hey, no, this is about prioritization of cash
11:09
flow. You know. Another example of this would be health benefits. Most
11:11
small employers feel they can't afford health benefits or four one K, and it's
11:16
really more about, Hey, as you're looking to give raises in the future,
11:22
you consider putting some portion of that raise towards a kind of broad benefit
11:28
plan like a four one K, like health insurance, dental disability, whatever
11:33
it might be. Because what you're doing at that point is you're building out
11:35
a suite of benefits. You're building a place where your employees can come and
11:41
build a career instead of just have a job. Because listen, if your
11:45
employer doesn't offer a retirement plan. So if you're if you're an employer sitting
11:48
there thinking should I do this? If you don't offer that retirement plan,
11:52
you are actually limiting your employees ability to build a career at your place of
11:56
employment. So we just cannot encourage you enough to really consider at some point
12:01
throughout the evolution of your business setting up a simple IRA set IRA four O
12:07
n K four oh three B. And this is really right in the wheelhouse
12:11
of what for us spends all his time doing. So with that being said,
12:15
for us, I know there are a lot of fiduciary considerations for the
12:18
employer in the administration of the plans. Should what should people know about this?
12:24
Yeah, so this is another great question. And there's a couple of
12:26
different things that I just want to touch on as we're talking about this particular
12:31
topic. And one is just kind of the overall kind of fiduciary concerns that
12:35
an employer might have. And you know, it's important that you have a
12:43
diverse choice of investment options within the plan to make sure that the employees can
12:48
really create an investment allocation that fits for them no matter what their age is
12:52
and how close they are to retirement. So that's really one important thing that
12:56
we want to think about from a fiduciary standpoint. But then also it's important
13:01
that an employer, as they're developing the plan and the rules that govern the
13:05
plan, that they really act in the best interest of all of the employees
13:11
that are going to participate in the plan, not just in the best interest
13:13
of management or one particular group of employees. You really need to think about
13:18
all of the employees they are going to participate and try and make the decisions
13:22
that are best for everyone. And another important thing as an employer is engaging
13:28
your employees to make sure that they really appreciate the benefit that you're providing for
13:35
them. And you really want to do this through financial education. It's a
13:39
big part of this, and your employees really need to understand how the plan
13:43
works, when are they eligible, and how can they really use this tool
13:50
to help them plan successfully for their futures and their future retirement Because if they
13:56
don't set aside money for their own futures, who's going to do it for
13:58
that? So we really need to think about that. And then finally,
14:03
I would say, you really need to find a financial professional that can help
14:07
you, work with you and partner with you to really make this a successful
14:13
plan. That financial professional is going to provide some of that education that we
14:18
just talked about and really connect with the employees on a one on one basis
14:24
or through group meetings or through webinars or videos. To really help those employees
14:30
understand and appreciate the benefit and to set money aside for their futures. But
14:35
also that financial professional is going to help you, as the employeer, manage
14:39
and monitor the plane and the investments that are in the plan, again for
14:43
the benefit of all the participants. Talking this morning with Forrest Ross and c
14:50
J Class our retirement planning professionals from Class Financial. Great information this week,
14:54
some very stuff that I don't know. We've talked a little bit about it
14:58
in the past, not a lot, though. This is new to you
15:00
and maybe there's something that's catching your attention. You've got some questions, maybe
15:03
you want to learn more. You can always call Class Financial six O eight
15:07
four four two five six three seven at six O eight four four two five
15:11
six three seven. No charge for that initial get to know your appointment at
15:13
Class Financial. It is complimentary to you. Again. They're telephone number six
15:16
O eight four four two five six three seven. Learn more online Class financial
15:20
dot com. That's klaas Financial dot com and the telephone lines are open for
15:26
you right now at six O eight three two one thirteen ten. That's six
15:28
O eight three two one thirteen twen we'll talk about how common these employers sponsored
15:35
four oh one k plans are here in the States. We will get some
15:37
more details on ways to revamp a retirement plan, and of course the Class
15:41
Quiz question of the week that in your call next as Money in Motion with
15:45
Class Financial continues right here on thirteen ten WIBA. This is Money in Motion
15:54
with Class Financial, a fun and informative show designed to help you get answers
15:58
to all your retirement questions in one place, talking with our retirement planning professionals
16:03
from Class Financial, CJ. Class and Forrest Ross. You can learn more
16:07
about Class Financial on their website, great resource Class Financial dot com. That's
16:11
Klaas Financial dot com. While you're there, don't forget to sign up for
16:15
the market Paul Snows Letter. It's a weekly emails. Got a little snapshot
16:18
of what's been going on in the markets that week. Also linked to the
16:22
most recent podcast that up at Class Financial dot com to subscribe and can of
16:26
course always listen back to this and all the other shows podcasts going back years
16:30
and years and years and years. We've been doing the show a very long
16:34
time. All available up at klass Financial dot com. Delpha number six O
16:37
eight four four two five six three seven. No charge for the financial get
16:41
to know your apployment at Class Financial. It will be complimentary to you.
16:44
Again, they're telephon number six O eight four four two five six three seven.
16:48
Still got some time as well if you've got a question for CJ and
16:49
Forrest love to get you on the air this morning at six three two one
16:53
thirteen ten. That's six O eight three two one thirteen ten. And Forrest,
16:57
how common are employee? You're sponsored four oh one K retirement plans here
17:02
in the United States? For us? How common are these things? Do
17:06
you know? Sorry? In the United States, what we see today is
17:11
that really four in ten workers in private industry are currently participating these type of
17:18
employer sponsored retirement plans like four oh one ks. And because of this,
17:22
they're becoming more and more commonplace, and current and future employees are really expecting
17:27
their employer to offer these type of plans. And what we're actually seeing in
17:33
the industry is a trend for states to start requiring employers of certain sizes to
17:38
offer retirement plans. Our neighbors to the south, Illinois, have instituted such
17:45
a plan where now employers of a certain size are required to offer retirement plan
17:51
or they have to enroll in the state plan. So again it's becoming more
17:55
and more commonplace. And really, I think that if you want to have
18:00
a successful retirement plan as an employer, you want to be able to attract
18:04
quality new employees, reduce employee turnover by providing great benefits to your employees,
18:11
of which the retirement plan is really going to be part of that package.
18:15
And ultimately, you know you want to engage with your employees which will help
18:18
them and help you grow your business and really provide a great working environment for
18:23
your employees. Six eight three two one thirteen ten. That's six o eight
18:27
three two one thirteen ten. If you've got questions for Forest Ross and c
18:30
J Class our retirement plan, professionals from Class Financial love to hear from you
18:34
this morning. I got the telephone I'm going to get on the air six
18:37
eight three two one thirteen ten. You can learn more about Class Financial on
18:41
their website Class financial dot com. That's Klaas Financial dot com and they're telephone
18:45
number six O eight four four two five six three seven. Going to the
18:51
phones. We'll head to Madison right up the road here in Madison and Todd
18:53
joins us. Todd, welcome to the program. You're on the air with
18:56
CJA. Good morning, Todd. Great to hear from you here on the
19:00
with CJ Class and Forrest ROSSI Class Financial. Yes, I'm going to be
19:04
eligible to cleect Security next year, but I'm I'm told to hold off for
19:11
my wife. You know, the wait till full retirement age, which seventy.
19:15
And I was just kind of curious if I were to pass or her,
19:18
or if she were to God forbid, go, could I do I
19:23
Can I collect from her at all if she's gone? Or can I collect
19:30
can she collect off me if we hold off not taking Social Security? Yeah?
19:36
Good, good question, Todd. Um. So yes, the answer
19:40
your question simply is yes. Now you you mentioned there in the beginning of
19:44
your question wait till full retirement age, and then you said which is seventy.
19:48
So just a couple of clarifications, and this is for all listeners.
19:52
Earliest you can draw off of your own record is typically age sixty two.
19:55
Your full retirement age as an American is somewhere between sixty six and sixty seven
20:00
eleven. And then for every year that you wait after your full retirement age,
20:03
you get what are called delayed retirement credits up to a maximum of age
20:07
seventy, at which there's no more accumulation or credits thereafter. So, as
20:12
you're saying, Todd, often financial planners or friends or people will say,
20:15
hey, I've heard you should wait. And that's just simply because for every
20:18
year that you wait, you're going to get an extra you know, seven
20:21
to eight percent for waiting. But you're also a year behind on what you
20:26
could have drawn, right, and so that's that's the catch twenty two here
20:29
is when do I draw? And so to your point, well, gosh,
20:32
what if I wait and then I die, then it's all for naught.
20:33
It's not necessarily true. If you wait and you die, your benefit
20:37
has continued to accrue, and then upon your death, I'm going to pick
20:41
on you, Toad. Say you die first, your spouse will be eligible
20:48
at that point for all of her record or all of your record, whichever
20:52
is greater. Now, this has some assumptions around how long you've been married,
20:56
YadA, YadA, but that's too detailed for this conversation to hit.
21:00
But the point being, yes, she will not lose the accrual of you
21:03
waiting. If you were to die before drawing, she could draw all of
21:07
hers or all of yours, whichever is greater. Now she won't be able
21:11
to double up. That is one downside obviously, if you're both drawing social
21:15
Security and one of you dies, then whoever remains alive gets the higher of
21:18
the two, but then the other one does go away. So now,
21:22
whether or not I suggest you wait, Todd, I have no idea,
21:26
I don't I know nothing about you, and I can't say whether or not
21:27
I think you should wait. But a good question, okay, Todd,
21:33
great question this morning. Thank you for calling and really good stuff. And
21:36
don't forget if you ever miss any part of the program or you got more
21:38
questions. Of course, you can go to class financial dot com that's Klaas
21:42
financial dot com. Great websword site and resource to learn more about Class Financial
21:48
their telephon number six O eight four four two five six three seven no charge
21:51
for financial. Get to know your apployment at class financial again it'll be complimentary
21:55
to you and telephon number six to eight four four two five six three seven
21:57
and the website class financial dot com that's klaas financial dot com. Talk a
22:03
little bit more about maybe he's planning to revamp your retirement plan for your employees.
22:07
With the details from Forrest, we will do that as well as the
22:11
Class quiz question the week next as Money in Motion with Class Financial continues right
22:15
here on thirteen ten WIBA. This is Money in Motion with Class Financial,
22:23
a fun and informative show designed to help you get answers to all your retirement
22:27
questions in one place. Talking this morning with our retirement planning professionals from Class
22:32
Financial, c J, Class and Forrest Ross talking this week about folks who
22:37
own businesses or in a leadership position at their office who are looking for benefits
22:41
and some thoughts when it comes to four oh one ks and other things employer
22:47
sponsored four oh one K plans putting those in place, and as we talk
22:51
with Forrest and CJ this morning, don't free. I can learn more about
22:53
Class Financial on the website Class financial dot com. That's klaas Financial dot Com
23:00
and their telephone number six so eight four four two five six three seven No
23:03
charge for that initial get to know the appointment at clause Financially, it will
23:07
be complimentary to you again. The telephone number six eight four four two five
23:11
six three seven. So forrest, if an employer is looking at and looking
23:15
to review or maybe a revamp their retirement plan for employees, how can they
23:19
find out at about your services. Yeah, So if you're an employer and
23:26
either thinking about starting a new retirement plan for your employees, or if you
23:30
currently have a retirement plan, you just kind of want to have a third
23:33
party independent review of that plan. I would say the best thing to do
23:37
would be either to call or email us at our offices here in Madison and
23:41
be happy to give you an independent consult about what that might look like in
23:48
the options that you have available. I would also say our website is a
23:51
nice place to go as well. We have a special employer sponsored page on
23:55
our website that talks about our specific unique engage process that we use with our
24:00
clients to help make sure that they have a successful retirement plan for their employees.
24:04
Really important stuff you mentioned the website Class financial dot com. That's Klaas
24:10
Financial dot Com. Telephon number six O eight four four two five six three
24:14
seven. No charge for finitial gets no employment a Class Financial. It is
24:17
complimentary to you again. The telephone number six O eight four four two,
24:19
five, six, three seven. As we wrap things up this morning,
24:22
CJ, is there anything else that do you want to make sure folks know
24:25
when it comes to their employer sponsored retirement plans. Yeah, just a couple
24:30
of final thoughts here. First off, thanks to for us for jumping on
24:33
with us to talk about employer sponsored plans. He's kind of a key part
24:37
of our business here through our three divisions, one of which helped employers think
24:41
about how to plan for employees retirements. So thank you for us. But
24:45
a couple of final thoughts. We talked about four oh one case primarily today,
24:52
but I want you all to realize that actually it's it's a little more
24:55
complicated than that. When you think of the plan options that are available to
24:57
employers, it's everything from set I raise to simple I raise, to payroll
25:03
deduction I raise to four oh in case four or three, b's four oh
25:07
one, a's four fifty seven plans, and then all of these different types
25:11
of plans fall under what are called defined contribution plans. But there's a whole
25:15
other world of what are called defined benefit plans, which are commonly referred to
25:18
as pension plans. And then within these plans, you can have wroth money
25:22
pre tax money or after tax non wroth money. Here's the point. It
25:27
gets really complicated, really fast, and it's one of the reasons why people
25:32
like Forest exist because you want to make sure that as you establish a retirement
25:37
plan for your employees, that you are kind of confident that the option you're
25:41
making available to them is something that you know you can work for your employees
25:47
and exist for many years into the future. So it doesn't have to be
25:51
Forest, but I do highly encourage you. Number one, make sure you're
25:53
thinking about this. If you have a growing small business, you need to
25:57
address long term savings for your employees. If you don't, I promise you
26:03
you will eventually not be able to retain top talent. And then secondarily,
26:07
be cautious just trying to kind of like jump into this and you know,
26:11
go on to a website and set up a plan simply because there's a lot
26:15
of legal and tax kind of reporting that has to be done on these and
26:18
so just highly encourage you to find a good professional to help you with it
26:22
all. Now a day goes by where you don't hear stories about how competitive
26:26
is out there when it comes to being an employer and finding those great employees.
26:30
And one of the great things is having having a great retirement plan in
26:33
place to offer in a great package to offer those employees fantastic information this week.
26:37
As always, as mentioned the website Class financial dot com that's Klaas Financial
26:42
dot com. I also often talk about learn about their separate divisions. At
26:47
class Financial, we are talking about one of those specifically this week. Again.
26:49
You can learn more all at class financial dot com that's Klaas Financial dot
26:55
com. There telephone number six O eight four four two five six three seven.
27:00
Charge for the initial gets no employment at Class Financial. It is complementary
27:03
to you again their number six O eight four four two five six three seven.
27:07
Want to hold on to that telephone number as well, because it's time
27:10
now for the class quiz question the week. It works like this, In
27:11
just a moment, I will ask you the class quiz question leak. You
27:15
will then have thirty minutes and from the end of today's program to call the
27:18
Class Financial office right here in Madison telephon number six O eight four four two
27:22
five six three seven, and if you are the first card with correct answer
27:25
will win this week's prize, which is a twenty five dollars gift card two
27:29
Wayfair. This week's class quiz question the week is this true or false?
27:33
The two most common forms of employer contributions into a four oh one K plan
27:40
include a non elective three percent contribution or a matching formula six O eight four
27:48
four two five six three seven true or falls. If you have first called
27:51
the correct answer, win the twenty five dollars gift card two Wayfair Again the
27:53
telephon number six O eight four four two five six three seven c J Forrest.
27:59
It's always great chatting with you guys. You enjoy this beautiful day.
28:02
Thanks Sean, Thank you. Daycare news comes your way next right here at
28:06
thirteen ten WIBA. This is Money in Motion with Class Financial Asset Advisors,
28:15
LLC, a registered investment advisor registered with the SEC. The content of this
28:22
show is for informational purposes only and should not be considered individual investment advice.
28:27
Class Financial does not offer tax or legal advice. Any opinion offered during the
28:33
course of this show is the opinion of that particular investment advisor representative, and
28:37
not necessarily the opinion of Class Financial