Employee retirement plans made simple
Help your employees prepare for the future and find a solution that fits your practice.
Help your employees prepare for the future and find a solution that fits your practice.
PSIvet is working with Principal® to connect veterinary practice owners and their employees with a simple online 401(k) solution.
Are your employees saving enough for retirement?
Making ends meet and saving for retirement at the same time can be a challenge for today’s employees. Many don’t have a plan or haven’t saved even a fraction of what they would need to retire comfortably. We’re aiming to fix that.
You can help start your employees on a path to a better future. A Simply Retirement by Principal® with PSIvet 401(k) plan is an easy way for them to save money now with the potential to have it grow over the years so they can enjoy retirement.
Darby Affeldt, DVM, RICP®
206-321-6566
email
website
Have questions? Talk to a financial professional with veterinary experience.
Have questions? Talk to a financial professional with veterinary experience.
Simply Retirement by Principal® with PSIvet includes the services of a dedicated financial professional who’s available to help you navigate the process.
Darby Affeldt, DVM, RICP®
206-321-6566
email
website
Darby is a registered representative and investment advisor representative of CRI Securities, LLC and Securian Financial Services, Inc. 2721349/DOFU 10-2019
What Simply Retirement by Principal® with PSIvet can do for you.
Setting up a workplace retirement plan isn’t something you do every day. We get it. Maybe you aren’t even sure where to start. Simply Retirement by Principal® with PSIvet makes it easy to learn more about retirement plans and what’s involved. And when you’re ready, you can use our planner to see what a plan might look like for your practice and estimate costs.
Take advantage of SECURE 2.0 Act tax credits to help offset up to 100% (up to $5,000 per tax year for the first three years for some employers) of your first three years of plan startup costs: Take advantage of SECURE 2.0 Act tax credits to help offset your first three years of plan *The benefits of the SECURE 2.0 Act.
Simple Selections
Set up your plan 100% online, where and when it’s convenient for you—or call if you have questions. We’ve streamlined the investment selection and simplified the paperwork too.
Simple Pricing
The low, flat-fee recordkeeping pricing makes a 401(k) plan affordable for your practice. And recordkeeping is the same price for all who sign up.
Simple Onboarding
After you purchase your plan, you’ll enroll your employees through the Ubiquity Retirement + Savings® platform—used by thousands of small businesses across the U.S.
Simple Administration
Ubiquity’s user-friendly dashboard will help you manage your plan and save time with features like automated notifications and payroll integration.
Take advantage of SECURE 2.0 Act tax credits to help offset up to 100% of your first three years of plan startup costs:The benefits of the SECURE 2.0 Act.
Simply Retirement by Principal® with PSIvet costs
Upfront
$500
One-time setup fee for bundled plans
Recordkeeping fee will be billed to business owners quarterly ($450 plus per-participant fees). Custodial fees, investment fees and financial professional fees (if applicable) are additional.
Cost savings with flat-fee 401(k) plan pricing
Other 401(k) plans may increase recordkeeping fees to veterinary practice owners as the total account balances increase. Not with the Simply Retirement by Principal® with PSIvet 401(k) plan. No guessing and no changes as employees contribute. It’s a predictable model you can plan for.
Still have questions?
We have answers.
What are the tax benefits for starting a new 401(k) plan?
A new enhancement was made to the tax credits intended to help cover the costs for small employers that choose to offer new defined contribution plans. Small employers with 50 or fewer employees can now count 100% (maximum $5,000 a year) of their qualified plan expenses toward the tax credit calculation, allowing more employers the ability to maximize the
Benefits of the SECURE 2.0 ActWhat is a 401(k) plan, and how does it compare?
401(k) plans allow employees to set aside a portion of their pay, typically before taxes. Employers can make contributions to the employees’ retirement plan if they choose.
401(k) plan detailsWhat’s involved in managing a 401(k) plan?
The program automates many of the tasks required, but you’ll still have a few basic responsibilities as the plan administrator. Here’s what you need to know.
Retirement plan basics
Small business growth platform
With a Simply Retirement by Principal® plan, your client has access to Elevate by Principal, a powerful network, resource, and team of people in their corner. From data-driven insights to deep discounts on products and services, that a business owner uses every day, Elevate by Principal can provide what your client needs to take their business to the next level.
Intended for plan sponsor use.
Start-up tax credit modification: Small employers with 50 or fewer employees may apply 100% of qualified start-up costs towards the tax credit formula (up to $5,000 per year).
New tax credit for start-up plans offering employer contributions: A tax credit equal to the applicable percentage of employer contributions, capped at a maximum of $1,000 per employee.
- Applicable to small employers with 50 or fewer employees.
- For employees with 51-100 employees: The credit is phased out by reducing the amount of credit each year 2% for each employee in excess of 50.
1st and 2nd year = 100%, 3rd year = 75%, 4th year = 50%, 5th year = 25%, 6th year = 0%
No contributions may be counted for employees with wages in excess of $100,000 (inflation adjusted). If taking advantage of this tax credit, employer contributions may not also be counted towards “start-up costs” in the start-up tax credit calculation.
*Recordkeeping-fee:Fees paid by the business owner are billed quarterly. Fees paid by participants are deducted monthly from participant accounts. Participant fees are charged if there is a $100 account balance, regardless of whether the participant is active or inactive. Custodial and investment fees are charged against participating employees’ accounts (those vary by investment and range from 0.05% – 0.69%, as of December 31, 2023). If the business owner chooses to work with a financial professional, their fee is also additional and may be billed to the business owner or deducted from participant accounts.
*What’s included: Plan costs are billed quarterly. Custodial and investment fees are charged against participating employees’ accounts (those vary by investment and range from 0.05% – 0.69%, December 31, 2023). Should you choose to work with a financial professional, their fee is also additional.
*Principal: As of Dec. 31, 2019.
