Welcome to Executive Benefit Plans, Inc.

 
Main Link Column
Select this link Retirement Plans
Select this link Strategies
Select this link Employee Benefits
Select this link Individual Benefits
Select this link Participant Info
Select this link White Papers
Select this link Consulting Service
Select this link Proposal Request
Select this link Administration
Select this link Contact
Select this link News
Select this link Blog
Select this link Home
 

Plan Insight

APRIL 2010 Newsletter

A Fifth of Small-Business Owners Tap into 401(k)s

The recession has taken a toll on small-business owners' retirement savings and personal health, according to a new survey. ---

A press release from management consultant George S. May International said 20% of respondents to its survey reported tapping into their 401(k)s for living expenses. Forty-one percent said they have not taken a salary in order to keep their businesses going.

More than a quarter of respondents (27%) indicated they do not have the financial resources to weather the next quarter. Eighty percent of the respondents give their business a nine-month lifespan if economic conditions do not improve, 16% said three months, and 4% reported six months of survival.

In addition, the survey of 713 small-business owners across the United States found that 52% said they've experienced negative health effects—both physically and mentally—due to the recession.

 

Retirement Plans

Select this link Consulting Services

Select this link Qualified Plans

   Select this link Savings Calculator

   Select this link   401k

   Select this link Safe Harbor 401k

   Select this link Roth 401k

   Select this link SIMPLE 401k

   Select this link Profit Sharing

   Select this link Money Purchase

   Select this link Defined Benefit

   Select this link Cash Balance

   Select this link Prohibitive Transactions

   Select this link Contribution Limits

Select this link Other Plans

   Select this link IRAs

   Select this link 419(e)

   Select this link SEPs

   Select this link SARSEPs

   Select this link SIMPLE IRA

Other Links

Select this link Tests

    Select this link ACP Test

    Select this link ADP Test

Select this link Restatements

Select this link Amendments

Select this link Mistakes

Select this link Catch-up

Select this link Funding Limits

Select this link EGTRRA Q&A

Select this link Conduit IRA

Select this link Pricing

Select this link Quote

Select this link White Papers

Select this link FAQs

Select this link Glossary

 

 

Information is provided for review and consideration only. Please consult legal and tax advisors for practical advice pertaining to your business and personal situations.

This page was last reviewed and/or updated on Monday, December 19, 2011 04:17 PM

 
Privacy Statement - Executive Benefit Plans, Inc. Copyright 1996 - 2011 All Rights Reserved - Legal Statement
Website Powered by UHSystems