A former nationally-syndicated radio host and author has launched a new company in Vancouver to help small businesses provide comprehensive benefits packages to their employees without breaking the bank.
On April 1, Jim Jorgensen officially rolled out Retire Tax Free LLC. The company, located at 316 SE 123rd Ave. in Vancouver, draws from Jorgensen’s more than 35 years in the personal finance and investing realm to offer what he believes is the most attractive benefits package for small business owners to reward their employees with.
“My hope,” Jorgensen explained, “is to bring to small business owners a simple and hands-off way to offer retirement plans and group fringe benefits – like health, vision, disability and life – at an extremely low cost that they can deduct as a business expense.”
According to Jorgensen, the Retire Tax Free approach begins with a trip to the client – any small business with at least eight employees. Representatives bring insurance company quotes, cards and booklets, educate staff on their options and enroll each employee into whatever insurance program they choose. Once the plan is installed, for a small monthly fee, Retire Tax Free takes care of all employee questions, concerns, follow-up and successive paperwork.
Additionally, all insurances offered have a dependent coverage option and, through The Vanguard Group, tax-qualified retirement plans are available.
Jorgensen said that Retire Tax Free is a win-win for employers, giving them the benefits package of a large corporation at minimal cost to them. Any expenses, including voluntary employer-contributions, are tax-deductible, he noted.
“Nobody is offering something like this – it’s just unheard of,” he said. “Nobody is offering all of these benefits – family or individual – in one package like this with somebody to administer each one. That’s what we’re shooting for.”
A graduate of the School of Business at University of California-Berkeley and registered financial advisor, Jorgensen parlayed his financial knowledge into print publications, was an on-air host at WOR in New York, ABC and CBS in San Francisco, and has authored eight personal finance books. In 2014, he went off the air and began making plans to move to Camas to be near family.
Now that he’s located here, Jorgensen said he wants to see local firms utilizing comprehensive benefit packages to retain talent, and he wants to see his Vancouver start-up reach its full potential.
“I want to help small business owners,” he said. “No one else is interested in this business model because the market is too complicated, too expensive.”
Currently, Retire Tax Free has a team of five employees, but that number could grow exponentially if the model proves successful, Jorgensen said. The company may also add offices in Portland and Seattle, eventually.
“After that (initial expansion),” he added, “then it’s very easy for us to open small offices around the country. However, you have to walk before you can run.”
Learn more by calling Vancouver Branch Manager Rich Blumenauer at 360.326.3593.