The 10 Commandments of Services And How Learn More

The 10 Commandments of Services And How Learn More

How To Find the Best 401k Plan for Small Business If you are a small business owner, then you know all about how providing competitive benefits like low cost 401k programs can be very difficult. Being able to provide loyal employees with a reliable 401k plan has been an unattainable dream for many small business owners. For this reason, 3(38) fiduciary companies are now offering a variety of 401k plans, including safe harbor 401k plans that are incredibly beneficial to their business as well as their employees. A safe harbor 401k plan may be perfect for any small business that would like to provide their employees with a viable retirement benefit at a price that the business can afford. For the employer, one of the advantages of a safe harbor 401k plan is the fact that they are not subject to Top Heavy and ADP/ACP testing. It is this fact that makes safe harbor 401k plans easier to manage for many small businesses. Safe harbor 401k plans are also perfect for small business employees who are approaching retirement age. This is because safe harbor 401k plans allow employees to contribute as much as they want to their retirement. Their employer is then required to match their contribution at 100% for the first 3% of their earnings and then 50% for the next 3%.
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Many of you may be wondering exactly how an employer will benefit from providing 401k plans for their staff? First and foremost, a benefit like a safe harbor 401k plan will actually reduce turnover in your business by supplying your staff with extra encouragement to stay until the reach retirement age. Many small companies have had a lot of trouble keeping employees because they have not been able to compete in the area of providing benefits for their staff like larger firms always could. By implementing a safe harbor 401k plan for your company, you will be able to offer a retirement benefit that can compete with those being offered by larger firms.
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When you are in the market for the best 401k plan available for a small business, the first thing you should do is take a closer look at what is available from a 3(38) fiduciary manager. By taking a moment to visit the website of a company that offers high quality 401k plans, you will be able to find out more about how your can benefit from safe harbor 401k plans and other forms of 3(38) fiduciary management services. The best way to begin is to perform a search using your favorite search engine for the best 401k plans available for small business or a 3(38) fiduciary manager in your local area.

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