Employee Benefits

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  • 401k Plans
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    Employee Health Coverage
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    401k Retirement Plans

    A 401k plan is a type of structured retirement savings arrangement, which allows employees in the U.S. to set aside tax-deferred funds each time they receive a paycheck.

    401k plans are designed to offer a great amount of flexibility to employees, allowing them to make regular changes to the size and frequency of their contributions. This means that, unlike a traditional pension scheme, 401k plans don't specify from the outset how much an employee will receive upon retirement.

    Employees are legally permitted to defer tax on up to 15% of their annual income, to a maximum of $10,000 per year.

    By offering a 401k plan to your employees, you are providing them with a valuable retirement tool that will boost the reputation of your business, and make it a generally more desirable place to work.

    As a business owner, your role is to find a 401k provider, then do all the necessary legwork to set up a plan. You will be required to spend a few thousand dollars on start-up and administrative fees, but setting up a retirement plan excellent investment in the future for your business and its employees.

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