401(k) expertise you can count on
One of the most flexible retirement plan types, a 401(k) plan enables business owners to customize a plan that fits the needs and goals of their business—and their employees. Plus, 401(k) plans have the highest contribution limit among retirement plan options, which is important for business owners interested in saving for their future alongside their employees.
96%
of employers sponsoring a 401(k) believe the plan is important for attracting and retaining talent
83%
of employees agree that retirement benefits offered by a potential employer are a major factor in their final decision while job hunting
Source: Workplace Transformations: Employer Business Practices and Benefit Offerings, Transamerica, March 2024
401(k) plan options
Individual(k)
This easy-to-implement and cost-effective plan can help self-employed individuals maximize their retirement savings. It has all the advantages of larger 401(k) plans—without the administrative responsibilities, complex discrimination tests, and associated costs.
Traditional 401(k)
Among the best-known and most popular company-sponsored retirement plans, a 401(k) gives employers flexibility in plan features and design, has high contribution limits, and can be a valuable tool in employee recruiting and retention. To help employers build a plan that meets their needs, Ascensus offers full-service and recordkeeping-only 401(k) plans.
MEPs and PEPs
A multiple employer plan (MEP) enables employers in similar industries to join together and collectively participate in a 401(k) plan, giving employees the opportunity to save for a more financially secure future. While similar in many ways, a pooled employer plan (PEP) allows unrelated employers—those of various industries or offering different types of services—to also "pool" together to offer their employees a 401(k) plan. MEPs and PEPs may be especially well-suited to companies seeking to provide a cost-efficient retirement solution without the administrative burdens associated with standalone 401(k) plans.
Your plan journey
Build
One of the most important decisions you'll make is how to build your plan. Considerations include maximizing participation, mitigation plan risks and minimizing administrative tasks, and choosing the investments best suited to your employees.
Manage
Fulfilling your fiduciary responsibilities, administering your payroll, and communicating with employees are just a few of your obligations as a plan sponsor. Our technology and experienced professionals work together to keep you on track.
Measure
It's important to monitor and optimize your plan's performance over time. We'll augment your plan's data with insights into plan-related trends and benchmarks from both Ascensus and independent third parties to help inform your decision making.
