If You Think You Get Options, Then Read This

A General Overview of the Benefits of a 401k Plan for Small Business There are important benefits in providing your employees with a safe harbor 401k plan. This is mainly because a safe harbor 401k plan will provide your company with benefits that a traditional 401k plan will not. A safe harbor 401k plan is a low cost retirement plan that is perfect for small businesses. To meet the requirements for a safe harbor 401k plan, an employer must meet certain contribution guidelines. When your company offers a retirement benefit, your 401k plan will be tested to see if it meets industry requirements, which could incur fees if your plan does not meet these standards. To ensure that companies are meeting these standards, Top Heavy and the ADP/ACP testing are applied and if these standards are not met, the employer may end up paying additional fees. However, if you implement a safe harbor 401k plan in your small business you will not have to meet these testing criteria and will not be subject to testing. For this reason, small businesses all over the country are switching to safe harbor 401k plans by getting in touch with 3(38) investment managers who help them find and implement the best 401k plans available for their specific company needs. If you want to implement a safe harbor 401k plan, your employer contribution will have to fall within certain specific guidelines. In a safe harbor 401k the employer must match the first 3% of the employee contribution at 100% and then match the next 3% at 50%. Though this may be a larger contribution than other plans, not having to submit to ADP/ACP testing makes it worth it.
What You Should Know About Investments This Year
If you are looking for a cost effective way to meet the needs of your employees, it is a good idea to get in touch with a safe harbor 401k provider to learn more about implementing them in your company. The best 401k plan providers will have plenty of options including safe harbor and traditional 401k plans and 3 38 investment managers on hand to help you make a choice that will most benefit your business. With the help of a 3(38) investment manager you can mitigate financial risk in your fiduciary planning which will be beneficial to your business as well as to your employees.
5 Key Takeaways on the Road to Dominating Services
To find out more about the benefits of working with a 3(38) investment manager the best thing you can do is take a moment to visit the website of a safe harbor 401k plan provider. All you have to do to get started is perform a search using your preferred search engine for the best 401k plan providers or for a 3(38) investment management services company.