Selling Your Business: The Impact on Your Retirement Plan
Jen Gibbs Swets, a partner at DWC, The 401(k) Experts, a firm providing third party plan administration, compliance and consulting services for qualified retirement plans nationwide joins Enterprise Radio to talk about the impact your retirement plan has when selling your business.
- What is your advice for companies considering selling their business?
- What are the top 3 misconceptions or errors sellers have related to their retirement planning?
- To be clear, if an owner sells the company via an asset sale they can keep the plan open – what are the benefits of that approach?
- How are employees (or participants of the plan) handled before and after the acquisition related to their retirement plan?
- Companies with excellent cash flow, what should they be thinking about as it relates to their retirement plans?
Summary: When selling, don’t ignore your retirement plan as it may end up costing you money after the sale is completed! If you have strong cash flow, make sure you maximize your retirement plan (s) with a design that maximizes your retirement savings and improves your corporate and/or individual tax returns.
Jen Gibbs Swets has more than 15 years of experience in the retirement plan industry focusing on plan design through collaboration clients and advisors. As a partner at DWC – The 401(k) Experts, a firm providing third party plan administration, compliance and consulting services for qualified retirement plans nationwide, Jen looks for opportunities to implement and enhance retirement plan programs in ways that support the plan sponsor’s business and savings goals while creating meaningful savings opportunities for participants.
She is passionate about playing an active role in the retirement plan industry and has held several leadership roles within the American Society of Pension Professionals & Actuaries (ASPPA), including her current role on the Leadership Council where she leads the Millennial Task Force for next-generation engagement. She has also served as the Co-Chair of the ASPPA National Conference, Co-Chair of the ASPPA Regional Conferences, and volunteered on ad-hoc Retirement Plan Academy committees.
Jen has served as a speaker for numerous groups and also published articles in The Journal of Pension Benefits and Plan Consultant Magazine. Dedicated to her community, Jen serves as a sustainer for the Junior League of Norfolk-Virginia Beach where she held several board positions during her tenure. She is a LEAD Hampton Roads graduate and has participated in College of William & Mary Alumni events. She was recently recognized by Inside Business as a Top 40 Under 40 honoree.
DWC – The 401(k) Experts is a firm providing third party plan administration, compliance and consulting services for qualified retirement plans nationwide.
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