Mortgage Investment Services Corporation • 22316 Midland Drive Shawnee, KS • 66226 • 913-390-1010 NMLS# 194708 • A Kansas licensed mortgage company #MC 0001182 Missouri Residential Mortgage Loan Broker License #10-1912 Oklahoma Mortgage Broker #MB001953 • Colorado License #100044344 Nebraska Licensed Mortgage Company NMLS#194708 Arkansas License #124530 YEARS 25 Let’s Talk Fair Lending! Partnering with Mortgage Investment Services Corporation (MISC) means equal access to credit for housing to all within your community. Here’s why collaborating with us sets you apart: • Fair Lending Protocols, Regulatory Compliance • Tailored Solutions for Diverse Clientele • Government financing options: FHA, VA, & USDA-RD • Rebuilding your community with renovation lending • Expand your customer reach Join forces with MISC to provide every member of your community with the opportunity for homeownership. We get it right the first time! Andrew Holtgraves, Senior Vice President • Cell: 913-558-2555 Email: Andrew@MISCHomeLoans.com • NMLS: #276932 making it a good fit for small, growing companies. If an employer chooses to provide a 3% matching contribution, employees must also contribute up to that limit to receive the full employer match. This gives employees some skin in the game while keeping administrative work manageable. Employers may also choose to allow deferrals to be made on an after-tax basis, like Roth SIMPLE contributions. Individual (k) Plan: Maximum Savings Potential Also known as a Solo 401(k) plan, the Individual (k) plan is designed for owner-only businesses (and their spouses). It combines the power of employer and employee contributions, which makes it the most robust of the three plans. • Contributions can go higher than any other option — $70,000 for 2025 when combining deferrals and employer contributions. Extra catch-up contributions are available ($7,500 if age 50 or older, $11,250 if age 60-63), which can raise the $70,000 limit by the applicable catch-up amount. • Individual (k) plans offer tax flexibility. These plans can allow for Roth contributions and even participant loans. • There is moderate plan administration. Employers must file Form 5500 once plan assets exceed $250,000; however, the Individual (k) plan reporting requirements are simpler than those of a traditional 401(k) plan. This plan is the best fit for self-employed individuals who want to maximize their retirement savings with extra tax planning flexibility. Making the Right Retirement Savings Choice There’s no one-size-fits-all retirement plan. A SEP plan may be perfect for a self-employed consultant with fluctuating income; a SIMPLE IRA could be the right fit for a family-run or small business that wants to encourage employee participation; and an Individual (k) plan could help an ambitious solo entrepreneur set aside some serious savings while taking advantage of Roth contributions. At the end of the day, the best choice comes down to your clients’ business structure, their saving goals and how much complexity they’re comfortable managing. Partnering with a financial or tax professional can help ensure your clients’ retirement plan not only meets compliance requirements but also helps secure the future they’re working hard to build. Jodie Norquist is a consultant with the Ascensus ERISA Compliance Department. As a consultant, she assists financial organizations with technical compliance matters through Ascensus’s 800 Consulting Service. In addition to consulting, Norquist is responsible for writing and editing Ascensus’s technical and marketing materials. She has received the designations of Certified IRA Professional (CIP) and Certified Health Savings Professional (CHSP). She holds a Bachelor of Science in Mass Communications from Bemidji State University and a Master of Science in Mass Communications from St. Cloud State University. 21
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