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Setting up a Group Retirement Plan is an important piece to a groups overall benefits package, but a 401k isn’t the only choice. Not all payroll provides give you the option, but one size does not fit all. We provide the guidance you need to make the right decision for your company.
The 2 most popular plan designs for Employers would be a 401k or a Simple IRA
Simple IRAs – The benefit with a Simple is that you have less administrative fees and no fiduciary responsibility but are required to make a match to be in compliance. You cannot contribute as much to a Simple as you can a 401k. A Simple provides a convenient solution for small employers who don’t want to deal with the complexity and administration costs of a 401k.
401K – We work with a variety of providers, but prefer to work with plans that integrate directly with our software. This provides an easy administration for everyone. 401ks are a great way to allow employees to save for retirement, but they do have certain requirements for employers to be in compliance. We can work with your current advisor, become your advisor, or help you establish a plan that works for your company. We even have plans that take most of burden off the employer.