Is my business too small to offer a 401(k) plan?
Small business owners and their employees often enjoy perks such as a strong sense of community, a family-like atmosphere, and the ability to make each employee feel as though their voice is truly heard.
Year-end small business tax benefits of sponsoring a 401(k) plan
As year-end approaches, many business owners begin scrambling to find ways to maximize potential tax benefits for the year. Perhaps your financial advisor suggested saving any expensive company purchases for the end of the year in a last-ditch effort to lower your profit margins and drop your business into a lower tax bracket.
How to evaluate a 401(k) plan provider
It always seems like the most important time to have a plan in place is when you’re in the midst of uncertainty. When anything can happen, life’s twists and turns seem easier to handle if you know to expect the unexpected.
What small business owners need to know about 401(k) fidelity bonds
There are plenty of different types of insurance the average person is likely to have: life insurance, health insurance, car insurance, etc. However, many small business owners begin the process of sponsoring a 401(k) plan and hear for the first time that they may be required to purchase a bond to serve as insurance on behalf of their 401(k) plan.
Four common questions small business owners have about converting their SIMPLE IRA to a 401(k) plan
Small business owners looking to implement a retirement plan for their small business commonly decide a SIMPLE IRA is a good savings vehicle for them to start out with; it’s a low-cost option that is pretty easy to run and offers employees a place to save for retirement. However, as the business grows and business owners start to experience limitations in the plan, many outgrow their SIMPLE IRA and begin to think about upgrading to a 401(k) plan.
Top five reasons small businesses should start a 401(k) plan this year
Small business owners make hundreds of decisions a day ranging from big to small—and many decisions have some sort of effect on their company's bottom line and overall livelihood. When it comes to the benefits package offered by the company, small business owners may also make decisions that impact the livelihood of their employees as well.
What small business owners need to know: Changing a SEP IRA to a 401(k) plan
Small business owners who decide to set up a retirement plan to benefit themselves and their employees may consider a Simplified Employee Pension (SEP) IRA. Not only is it a low-cost option for the employer, but it doesn’t require the same IRS reporting and plan testing involved in running conventional retirement plans.
Five things plan sponsors need to know about the 401(k) restatement cycle
As a retirement plan sponsor, you have a lot of responsibilities—including keeping your retirement plan document up-to-date with the latest legislative and regulatory changes.
Benefits of automatic enrollment in a retirement plan
Artificial intelligence (AI) may be all the rage these days, with multiple reports coming out almost daily highlighting the benefits of AI on both professional and personal levels. But before we had AI, we had automation.
Is a safe harbor plan right for your small business?
Determining the right type of 401(k) plan for your small business can be challenging. With so many options and so much to consider, one key decision you may have to make is whether to go with a traditional plan design or a safe harbor plan design. This is a vitally important decision, as your choice can have long-term implications for both your employees and your company.
