Do you have a 401k retirement plan at your practice? When was the last time it was reviewed? There have been many changes in the retirement plan space. Many 401k companies (recordkeepers and Third Party Administrators (TPAs)) have been bought, and service has dropped.

In the video above (and linked here), Andres reviews 3 key details that may indicate that it’s time to review your 401k.

Are you able to defer the maximum into your plan?

In 2024, that’s $23,000. If you’re over age 50, you can defer $30,500.

Are you, as owner, getting at least 60% of the total Profit-Sharing Contributions?

Don’t forget to add any employee family members!

Are you able to make Roth 401k contributions in your plan?

Can you make a Roth (after tax) 401k contribution that is not limited by your income?

We hope you are on track! If you need to review any or all of these areas, reach out for your free initial consultation! We have 20+ years in helping dentists make their financial goals a reality.