Looking On The Bright Side of Funds

A Closer Look at 401k Plans for Small Business Small business owners certainly understand just how difficult it can be for a small business owner to offer their employees a competitive benefits package that includes a low cost 401k plan. Providing small business employees with competitive benefits has been almost impossible for small business owners for many years now. 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. Safe harbor 401k plans are the perfect solution for small business owners who are eager to provide their employees with a retirement benefit but unable to find a plan that fits with their business. One of the best things about a safe harbor 401k plan is the fact that, unlike ordinary 401k plans, safe harbor 401k plans are not subject to ACP and ADP tests. For this reason, safe harbor 401k plans are easier to manage than other types of 401k plans and is why they are quickly becoming the most popular 401k plan around. 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. And their employer is required to contribute 100% matching funds ups to the first 3% and 50% on the next 3%.
Overwhelmed by the Complexity of Resources? This May Help
There are sure to be many of you who are wondering how the employer actually ends up benefitting from offering employees a viable 401k plan? 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. Small businesses have had trouble retaining quality staff for many years because they could never match the benefits packages that quality staff could get from larger firms. With a safe harbor 401k plan, your company will be able to match the retirement packages of larger firms and thus be better able to retain qualified employees.
If You Think You Understand Resources, Then This Might Change Your Mind
If you are looking for the best 401k plans for your small business, the first thing you should do is contact a 3(38) fiduciary management service in your local area. 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.