If you have never offered a 401(k) plan for your business, know that a little online research can help you quickly circle in on what you will need from a 401(k) provider including services, pricing, and investments that can make all the difference. Things to know upfront:
- Keeping all-in investment expenses under 1%. Paying more can lead to a much smaller next egg. Few if any Fortune 100 plans pay over 1%, and there is no reason you need to either. Hint: index funds can be a real win and may put you ahead of the big plans too!
- Make sure you choose a provider that is full-service -- has both digital and real, qualified people to service you and your employees quickly and expertly.
- Features like Roth 401(k), auto-enrollment, and payroll simplification options can be important too.
There is more, so, give these three brief articles a read and get ready to help you and your employees save for tomorrow while lowering your taxes this year too. It should not take much time to manage each month once your plan is setup and live. FYI, each article has links to go deeper into any subject you may want greater detail or just give us a call at 800-431-7934 option 1.
- Five Things to Know Before Setting Up Your First 401(k) Plan
- How to Choose the Best 401k Provider for Your Business
- Six Steps to Setting Up a 401(k) Plan
Happy saving!