A 401(k) plan is an important savings opportunity to help employees prepare for their retirement and one that only an employer can give them. Retaining and attracting employees are seen as top motivators for small businesses to offer a 401(k) plan.

First Financial Trust offers two different types of 401(k) advisory services, operating in a 3(21) or 3(38) capacity, and will conduct a business review to discuss which service best suits your retirement plan needs. First Financial Trust has partnered with an award-winning administrator, American Trust Retirement to administer the program. American Trust Retirement has been in operation since the 1950s and serves 15% of all retirement plans in the U.S. with combined assets of over $120 billion. First Financial Trust can also act in an advisory and fiduciary capacity only.

  • Everything FFT does in retirement planning is singularly focused on helping business owners and their employees’ plan, save and invest for their future.
  • We start with a highly cost-effective plan, tailored to your business.
  • With our fiduciary standard, we act solely in our clients’ best interests.
  • You and your employees get regular updates and have one single point of contact.

Planning for the next phase of life can be challenging.
Find out how we helped one client consider her options after the death of her spouse.
Click here to read her story.

401(K) Plans

It’s also important to understand the tax benefits for you and your business by offering a 401(k).

These include lowering your taxable income. Anyone in a 401(k) plan, including business owners, could be reducing their taxable income by the amount of their contributions (with limits), including catch-up contributions for individuals over 50.  

  • For businesses with 100 employees or less, starting a 401(k) will qualify the business for a tax credit each year for the first three years of a new plan.
  • Plan management expenses qualify as deductible business expenses.
  • Many employers make matching contributions to employees’ 401(k) accounts. These contributions may qualify as ordinary business expenses, in which case they are tax-deductible up to the annual corporate deduction limit on all employer contribution.
If you already offer a 401(k) plan, you can effortlessly add FFT as the fiduciary advisor to select and monitor the investments offered within the plan.  You have the option to keep your current program administrator or we can assist in moving your plan to a new administrator. We encourage anyone who is interested in learning more about our 401(k) services for their business to contact Andrew DiNuccio, Investment Officer, at 617-658-7624.