401(k) - a tax-qualified plan, in the United States where employers contribute towards the retirement savings of their employees (it can be a proportional amount too), which is deducted from the employee's payment, before being subjected to taxation. This is tax-deferred until it is withdrawn from the account by the employee post-retirement or in situations having a special mention in this act. It is a pension account, defined in subsection 401(K) of the Internal Revenue Code.

Whether one is running a small business or a corporation, the most important resources are its employees. One way to keep them motivated to work for your business is to invest in retirement plans for them. To do this job efficiently, one can hire the best 401K plan providers. These plan providers are third-party investment advisors, record keeper, administrators who can set up the plan according to their client’s need and communicate it to their employees.

Plans for Small Businesses

There are various companies which act as 401 (k) plan providers, where the small business owner should keep in mind that all are not serving the same company size. Some plan providers are more skillful in serving small organizations and some medium to large companies. A small business 401(k) plan provider charges fees based on employee numbers. They also have integration with popular payroll platforms, and charges low investment fees. When the need arises, they can provide personal assistance to employees.

The long list of responsibility and liability often makes the employers hire third-party 401k plan providers, as they can take up the job of 401k plan administrator. They start from designing a plan for their clients to executing, monitoring and communicating it to employees of the company.

CONTACT US:

Life Inc. Retirement Services
100 E. Campus View Boulevard
Suite #250
Columbus, OH, 43235, USA
Phone: 614-396-7652
Email: [email protected]
Website: https://www.lifeincrs.com/
Facebook: https://www.facebook.com/LifeIncRetirement
Linkedin: https://www.linkedin.com/company/life-inc-retirement-services