The vast majority of employers offer a traditional 401(k) or similar plan. Since retirement plans like 401(k)s are an important recruitment and retention tool, you may be considering offering one at your workplace, especially in today’s tight labor market. But, if you’re like many businesses, you’re probably wondering what expenses you may incur that will contribute to your business’s overall 401(k) cost. Let’s find out ..read more

Since you offer a 401(k) to your employees, you know there are a lot of steps involved with plan compliance to get it right. And one of the biggest things you need to make sure you do is deposit employee contributions on time. Since elective deferral rules and requirements can be confusing, we’re going to break them down for you here ..read more

If you sponsor a retirement plan at your company, there are a lot of requirements under ERISA that you’ll need to meet to ensure compliance. One of the most important is filing Form 5500 every year. But it can be challenging to get this step right to ensure you avoid audits, penalties, or even plan disqualification. To help you better understand your responsibilities, we’ll break down what you need to know here ..read more

Retirement plans can be a key way to attract and retain workers in today’s labor market. Yet, only 26% of small businesses offer a 401k. One of the main reasons is the perception that 401ks are too costly. While there are expenses involved in offering a plan, lower-cost options are available, one of which is a multiple employer aggregation program (MEAP). What is a MEAP 401k? Let’s find out ..read more

If you’re planning to offer your employees a 401(k) as an added benefit, then you probably already know these plans are highly regulated and require a number of actions on your part to ensure compliance with the Employee Retirement Income Security Act (ERISA). One of the steps you’ll need to take each year is to have a third party perform an annual 401(k) audit. What do you need to know about these reviews to make sure your practices are up to snuff? Let’s find out ..read more

If you’re thinking about offering retirement benefits to elevate your benefits package and boost recruitment and retention, you can choose from a lot of options, from traditional and Roth 401(k)s to safe harbor and SIMPLE. But your choices don’t necessarily end there. In some states, you also have to pick between state mandated retirement plans and employer sponsored.  ..read more

For many employees, knowing they can tap into their retirement savings in the event of an emergency by taking a 401(k) loan can give them peace of mind – and boost their 401(k) participation. But if you’re thinking about this feature, there are a lot of factors to consider in deciding if it’s right for your organization, from loan rules to administrative requirements ..read more

Amid the current labor shortage, you may be thinking about offering a 401(k) to incent workers to join or stay at your company. But you may worry about the time and responsibilities involved in starting a plan for workers. Fortunately, it’s easier than you probably expect to begin reaping the benefits of a 401(k) for you and your employees ..read more

If you’ve decided to offer a 401(k) to your employees to enhance your benefits package and boost employee satisfaction, your next step is to find a provider to help you design, administer and maintain your plan. Fortunately, there are hundreds of 401(k) providers out there. But that can also make it challenging to find the right one for your plan ..read more

If you currently offer a 401k to your employees or are thinking of adding one to your benefits package to improve recruiting and retention, you probably know there can be a lot of administration involved with these plans. One way to ease the burden on your staff is with payroll integration. With this approach, you’ll be able to increase efficiencies while also decreasing the likelihood of errors. What should you know about 401k payroll integration to decide if it’s something you should consider? We’ll break it down for you ..read more