Business Owners & the Self-Employed

Retirement Plans Built to Attract Talent, Reduce Risk, and Save Time

At Genesis Wealth Management Group, we help Illinois and Missouri business owners design, implement, and manage retirement plans that strengthen employee retention, streamline administration, and reduce fiduciary risk. Whether you’re evaluating an existing plan or launching a new one, our Investment Advisor Representatives—partnered with CFP® professionals—deliver coordinated guidance tailored to your company’s goals, budget, and workforce. Plans can be configured with Roth contributions, auto‑enrollment, and auto‑escalation to improve participant outcomes and align with best‑practice governance.

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What We Do for Employers

  • Plan Design & Setup: 401(k) (Traditional, Safe Harbor—including QACA—and Roth), Profit Sharing (including New Comparability), SIMPLE IRA, SEP IRA, Solo 401(k), and Cash Balance/Defined Benefit add‑ons. 403(b) support available for eligible organizations. We coordinate with your TPA/recordkeeper and CPA to align plan features with your compensation structure and tax objectives.
  • Behavioral Features: Automatic enrollment (EACA/QACA), automatic escalation, and periodic re‑enrollment to boost participation and savings rates.
  • Fiduciary Governance: Draft/maintain an Investment Policy Statement, deliver ongoing due diligence, fee benchmarking, and vendor RFPs. We can serve in a 3(21) co‑fiduciary or 3(38) discretionary role depending on your needs.
  • Investment Management: Open‑architecture menus with diversified mutual funds, ETFs, individual stocks/bonds, and access to Separately Managed Accounts when appropriate. QDIA selection, stable value/capital preservation options, and managed accounts.
  • Employee Education & Advice: High‑touch onboarding, workshops, and one‑on‑one guidance. Participants get access to real financial planning—not just a call center—through our partnered CFP® team.
  • Administration Support: Coordination with payroll, TPA, and recordkeeper for eligibility, compliance testing, notices, loans/distributions, and Form 5500 support—reducing your day‑to‑day burden.

For the Self-Employed (Solo & Micro-Businesses)

Not sure whether Solo 401(k), SEP IRA, SIMPLE IRA, or Cash Balance fits best? We model contributions and cash‑flow impact, then recommend a structure that balances flexibility, potential savings, and administrative simplicity. Solo 401(k)s can include a Roth option for tax diversification.

  • Solo 401(k): Maximize contributions with elective deferrals + employer profit sharing; Roth option often available.
  • SEP IRA: Simple setup and funding flexibility tied to business income.
  • SIMPLE IRA: Streamlined for smaller teams with required employer contributions; Roth option permitted under recent law.
  • Cash Balance/DB: Powerful for high earners seeking larger, consistent deductions alongside a 401(k).

Not sure whether a Roth 401(k) or Roth IRA makes sense for your business? Here’s how they compare.

Key Plan Features to Consider

Roth Contributions

Most retirement plans—including 401(k) and 403(b), and under SECURE 2.0, SIMPLE and SEP IRAs—can include a Roth option. Roth contributions are made with after-tax dollars and may grow tax-free when qualified distribution rules are met. Offering Roth alongside pre-tax gives employees flexibility to manage lifetime taxes.

Auto-Enrollment & Auto-Escalation

Automatic enrollment and annual auto-escalation significantly increase participation and savings rates. Plans may use Enhanced or Qualified Automatic Contribution Arrangements (EACA/QACA). These features help establish prudent processes and can reduce fiduciary risk by aligning with industry best practices.

Safe Harbor 401(k)

A Safe Harbor 401(k) can eliminate annual ADP/ACP nondiscrimination testing and mitigate top-heavy issues when requirements are met. Employer contribution options include: (1) a basic match (100% of the first 3% + 50% of the next 2%), (2) an enhanced match at least as generous, or (3) a 3% nonelective contribution to all eligible employees. Safe Harbor is often ideal for owners seeking to consistently maximize contributions while broadening employee benefits.

QACA Safe Harbor

QACA (Qualified Automatic Contribution Arrangement) Safe Harbor combines the benefits of Safe Harbor with automatic enrollment. It allows for a slightly lower required match and also permits graded vesting schedules. This design encourages employee participation while giving employers more flexibility in how contributions are structured.

Why Illinois & Missouri Businesses Choose Us

Team‑Based Planning

Advisor + CFP® collaboration delivers a personalized plan for owners and employees.

Fiduciary Focus

Documented process, fee transparency, and ongoing oversight.

Broader Investment Choice

Beyond only mutual funds—ETFs, individual securities, and SMAs when appropriate.

Turnkey Support

We coordinate vendors so you can focus on running the business.

FAQs

Can we add Roth or auto‑enrollment

Yes. Most retirement plans, including 401(k) and 403(b), can be updated to include Roth contributions as well as auto‑enrollment and auto‑escalation features. Adding Roth gives employees the option of contributing after‑tax dollars for potentially tax‑free withdrawals in retirement. Auto‑enrollment and auto‑escalation increase participation and savings rates, helping employees build stronger retirement outcomes while reducing your fiduciary risk by following industry best practices.

Often, yes—especially if owners want to reliably maximize contributions and minimize testing headaches. Safe Harbor designs (including QACA) provide a clear path to compliance while enhancing benefits for employees.

Absolutely. We design retirement plans for companies of all sizes, from single-owner businesses to nonprofits and growing teams. For small employers, options like SEP IRAs, SIMPLE IRAs, and Solo 401(k) plans provide meaningful retirement benefits with lower costs and simpler administration. As your business grows, we can help you transition to more advanced plans like Safe Harbor or Traditional 401(k) arrangements, ensuring your retirement plan evolves with your company.

Schedule a Retirement Plan Consultation

Now is the right time to make sure your retirement plan is working for you and your employees. Our team will review your current plan, compare costs, evaluate design features, and highlight ways to reduce fiduciary risk.

Your consultation includes:

  • A review of your existing plan or guidance on setting up a new one.

  • A benchmarking report that compares your plan to industry standards.

  • Clear, actionable recommendations tailored to your business.

Give your employees the competitive retirement benefits they deserve while protecting your business from unnecessary risk.

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