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Business Services: Retirement Plan

 

MBO Partners has partnered with Fidelity Investments to provide a retirement plan that allows you to begin saving for retirement today. See below for plan details, contribution limits, and how to elect or modify contributions.

You are may contribute up to the IRS legal limit in 2020:

Contribution Type Contribution Rate 2020 IRS Contribution Rates
Under Age 50 Age 50 and Up

Personal Retirement Contribution

Up to 50% of gross wages per pay period

$19,500

$26,000

Modify or Cancel Elections

Upon reaching eligibility, you can enroll at any time; however, now is a good opportunity to review your retirement savings needs and speak to a Financial Advisor to ensure that you are able to meet your retirement goals.

To enroll in the MBO 401(k) plan for the first time, login to your MBO Business Center. If you are enrolled and would like to review and/or update your fund elections, or if you would like to view full plan details, visit Fidelity NetBenefits.

Traditional or Roth 401(k) – Or Both!

MBO gives clients the option to contribute to a traditional 401(k) or a Roth 401(k) – or both.

Traditional 401(k) Investment Strategy

  • Contributions are tax-deductible
  • Money grows on a tax-deferred basis
  • Taxes are paid when funds are withdrawn
  • Subject to penalties for early distributions

Roth 401(k) Investment Strategy

  • Contributions are made with after-tax dollars
  • Money grows on a tax-deferred basis
  • Withdrawn tax-free in retirement, when certain conditions are met
  • Subject to penalties for early distributions

Go Beyond the Standard Fund Choices

We’ve worked hard to come up with great fund options for our retirement plans. One of the options available to you is Fidelity’s BrokerageLink. This provides you with access to expanded investment choices and the opportunity to more actively manage your retirement contributions. See the Brokerage Link brochure or Brokerage Link Fact Sheet for more details.

Additional Details

MBO has partnered with CAPTRUST Financial Advisors in selecting a variety of investment options to meet your needs. Review our investment menu and latest quarterly fund performance summary.

Have questions? Contact CAPTRUST Retirement Counselors at 800-967-9948 or visit www.captrustadvice.com.

Supporting Documents

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