S02E67 401k Retirement Plan Options with Matt Ruttenberg

Most attorneys view 401k plans simply as employee benefits, but Matt reveals they’re powerful financial tools when properly structured. “That’s probably about the farthest from the truth that I can explain to someone,” he says, comparing the difference between boilerplate retirement plans and customized solutions to the difference between using a legal template versus hiring an attorney.

This conversation goes beyond basics to explore what Matt calls the “retirement plan stack” – an upside-down three-tiered approach that can potentially allow contributions exceeding $300,000 annually. You’ll learn about critical deadlines, customization options for eligibility and vesting, and strategies for incentivizing key attorneys with long-term programs that align with your firm’s succession planning.

Matt also addresses practical concerns like state mandates (43 states now require or will soon require retirement plans), investment flexibility beyond standard mutual funds, and how to manage liability concerns as a plan sponsor. Whether you’re in growth mode and focused on employee retention or looking to maximize personal tax advantages, this episode offers clear guidance on building a retirement strategy that evolves with your practice.

The key takeaway? Start early, ask questions, and recognize that retirement plans offer far more customization than typically presented. Your 401k can be a powerful tool for firm growth, tax management, and wealth creation rather than just another benefit line item.

Reach Matt here:
https://401k.expert/