Broadstone Advisors

Is Social Security on shaky ground? Here's what experts are saying. Recent discussions have highlighted concerns about the sustainability of Social Security, especially with projections indicating potential insolvency by 2035. A recent article by Amanda Umpierrez in 401k Specialist Magazine delves into expert opinions on this pressing issue. The article emphasizes the urgency for legislative action to address the looming shortfall, noting that delays could necessitate more drastic measures in the future. How do you think policymakers should tackle the challenges facing Social Security? Share your thoughts and insights in the comments below. https://lnkd.in/gCxyEFxM

Building Your Legacy: Is an ESOP the Right Exit Strategy for Your Construction Company? Succession planning in the construction industry presents unique challenges. Traditional sales can be complex due to factors like legacy relationships and bonding requirements. An often-overlooked alternative is establishing an Employee Stock Ownership Plan (ESOP), which offers significant tax advantages and ensures the continuity of your company's legacy. An ESOP allows owners to transition ownership to employees, providing retirement benefits to staff while potentially offering tax benefits to the company. However, it's crucial to assess whether this strategy aligns with your firm's specific circumstances and goals. Have you considered an ESOP for your business? What are your thoughts on this succession strategy? The team at Broadstone Advisors would welcome a discussion. The full impact of tariffs on the construction industry is discussed in this article: https://lnkd.in/gCEGk3NV

Navigating the Ripple Effects of Tariff Hikes in Construction In his article for JD Supra, attorney Pasha Ameli, PhD, PE from the law firm Ankura writes that the recent proposed tariff increases, when implemented, are reshaping the construction industry, leading to higher material costs, disrupted supply chains, and compressed profit margins. These changes not only alter competitiveness but also create investment uncertainties that could impact long-term growth. How are these tariff hikes influencing your projects or business strategies? Share your experiences and insights below. Details of his analysis can be found here: https://lnkd.in/ghhRzCuy

Could New Tariffs Push Homeownership Further Out of Reach? Recent analyses indicate that proposed tariffs on essential building materials may increase home construction costs by 4% to 6% over the next year. This surge could add between $17,000 and $22,000 to the price of a new home, intensifying the existing housing affordability crisis. As builders grapple with rising expenses, the challenge of delivering affordable housing becomes more daunting. This development raises concerns about the future accessibility of homeownership for many Americans. What are your thoughts on these potential cost increases? How might they impact the housing market and prospective homeowners? Share your insights below. Additional details on the effect of tariffs can be found here: https://lnkd.in/gK-cjtE3

For construction company owners looking to transition ownership, secure their legacy, and reward their employees, an Employee Stock Ownership Plan (ESOP) offers a compelling alternative to traditional business sales. Brian C. Denlinger, CPA writing in his article for Brady Ware outlines the key benefits of ESOPs, including: ✅ Significant Tax Advantages – Owners can defer capital gains taxes, and ESOP-owned S corporations enjoy tax-exempt earnings. ✅ Business Continuity & Stability – ESOPs enable a gradual transition, preserving company culture and maintaining operations. ✅ Employee Retention & Engagement – Providing employees with ownership fosters long-term loyalty, helping retain skilled workers in a competitive industry. While ESOPs offer unique advantages, they require careful planning to ensure they align with business goals. If you're considering an ESOP as part of your retirement strategy, let's discuss how it could fit into your long-term financial plan. Read more: https://lnkd.in/dCrta_qs

Starting this year, SECURE 2.0 requires businesses with at least 10 employees to implement automatic enrollment and automatic contribution escalation for retirement plans established on or after December 29, 2022.  These 401(k) and 403(b) plans must automatically enroll eligible employees at a minimum contribution rate of 3%, with annual auto-escalation of at least 1% until reaching 10% to 15%, unless employees choose to opt out. As auto-enrollment is becoming more prevalent—in use at 47.1% of all U.S. plans, according to the 2025 PLANSPONSOR Defined Contribution Plan Benchmarking Report, businesses are embracing the feature to combat employee complacency and boost participation in 401(k) plans, say experts. https://lnkd.in/gRa4Q5is

Big Changes Coming for Retirement Plans in Construction—Are You Ready? Starting in 2025, SECURE 2.0’s auto-enrollment mandate will take effect—meaning many construction companies offering 401(k) plans will be required to automatically enroll eligible employees. For an industry with a dynamic workforce, this shift could be a game-changer for attracting and retaining talent. But it also means new compliance requirements and potential administrative challenges for business owners. This PLANADVISER article unpacks what construction companies need to know to stay ahead of the new rules and ensure a smooth transition. How do you see auto-enrollment impacting retirement savings in the construction industry? Share your thoughts in the comments! Details of these changes can be found here: https://lnkd.in/gRa4Q5is

SECURE 2.0: What Construction Business Owners Need to Know for 2025 Running a construction company means juggling tight deadlines, workforce management, and financial planning—but have you factored in the latest SECURE 2.0 changes? With new retirement plan requirements rolling out, employers in the construction industry need to prepare now. From mandatory auto-enrollment to new tax incentives and adjustments to catch-up contributions, these updates can impact your workforce strategy, compliance obligations, and long-term financial planning. Remy Samuels in her recent PLANSPONSOR article breaks down what’s ahead for 2025 and how construction business owners can stay ahead of the curve. How is your company preparing for these retirement plan changes? The team at Broadstone Advisors is here to discuss how to prepare your company for these retirement plan changes. https://lnkd.in/gNXwQ3ig

When was the last time you evaluated your retirement plan’s performance? Benchmarking isn’t just a best practice—it’s a necessity. In the ever-changing landscape of retirement planning, ensuring your plan remains competitive and cost-effective is critical. This article from PLANSPONSOR breaks down the “why,” “what,” and “how” of plan benchmarking, offering practical insights to help plan sponsors evaluate fees, investment performance, and overall plan effectiveness. Whether you’re a plan sponsor or HR professional, understanding how to benchmark effectively can lead to better outcomes for participants and ensure compliance with fiduciary responsibilities. How often do you benchmark your plan, and what metrics do you focus on? Share your thoughts or tips in the comments below! https://lnkd.in/g-XjtKUX

America’s best-kept retirement account isn’t a 401(k), an IRA, or a pension. In fact, it doesn’t even have the word “retirement” in it at all. The Health Savings Account (HSA) is a unique, often-overlooked account that offers a rare triple-tax benefit: tax-deductible contributions, tax-deferred growth, and tax-free spending. With this, it’s no wonder the HSA is on the rise. But as always, there’s a catch explains Noah W. in his article for The Average Joe. https://lnkd.in/e3-FueAZ