COLA (cost of living adjustments):
The mentioned COLA limits are for informational purposes only and may change. COLA limits can potentially increase in future years due to factors like inflation and economic fluctuations. Official sources or reputable organizations should be consulted to confirm actual COLA limits for subsequent years.
Flat fees:
Decimal, Inc. charges flat fees for recordkeeping and administrative services. Third-party service providers may assess asset-based fees to customers. We advise Plan Sponsors to review all service agreements with providers, such as investment advisors, custodians, and broker-dealers, to evaluate the total cost of the plan.
Google ratings:
Google ratings for Ubiquity Retirement + Savings’ products and services are determined by customer reviews. The rating calculation methodology is available here. The rates shown were last updated on January 12, 2023, and are based on reviews from 2014 to 2023.
Ranked #1:
Decimal, Inc. conducted an evaluation of four small-business 401(k) providers in the marketplace by analyzing independent customer reviews on Google, Trustpilot, and the Better Business Bureau, as reported by unaffiliated contributors on or before September 30, 2022, with a revaluation date of January 12, 2023. The evaluation resulted in a higher score for our company compared to the other providers. We strive to provide excellent service to our customers and appreciate their feedback.
Tax credits for employer contributions:
Employers with 50 or fewer employees can receive a tax credit for contributing to their employees’ retirement plans. The credit is a percentage of the amount contributed by the employer, up to a per-employee cap of $1,000. The credit percentage is reduced over five years, with 100% in the first and second years, 75% in the third year, 50% in the fourth year, and 25% in the fifth year. No credit for subsequent tax years thereafter.
Tax credits for startup costs:
Eligible employers can receive a tax credit of up to $5,000 over three years for starting a 401(k) plan, subject to IRS requirements. Employers with 50 or fewer employees qualify for a 100% tax credit, while those with 100-50 employees can receive a 50% tax credit. Additional eligibility criteria include having at least one non-highly compensated employee, an employee who received at least $5,000 in compensation in the preceding year and having substantially the same employees receiving contributions or benefits from another plan sponsored by the employer, a member of a controlled group, or a predecessor within the three tax years prior to becoming eligible. Employers with automatic enrollment plans can receive an extra tax credit of $500 per year for a three-year taxable period.
Taxes, tax credits, or investments:
Ubiquity is not a registered investment advisor, and the information provided herein should not be considered legal or tax advice. We recommend consulting with your financial planner, attorney, and/or tax advisor for personalized advice.
