Why Funds Aren’t As Bad As You Think

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. 401k retirement plans must meet industry standards or the employer who is offering them will face possible fees that can make it even more difficult for them to provide their employees with a viable retirement benefit. Industry requirements test your company’s 401k plan through Top Heavy and ADP and ACP testing which may end up costing your company additional fees if your 401k plan is not up to industry standards. By switching your business to a safe harbor 401k plan you can avoid this testing and the possible fees that you may be subject to as a result of not meeting the test criteria. It is for this reason that so many small business owners are seeking 3(38) fiduciary managers who can help them implement a safe harbor 401k plan that will be good for their business. If you want to implement a safe harbor 401k plan, your employer contribution will have to fall within certain specific guidelines. This contribution is usually an employer contribution of 100% of the employee’s first 3% contribution and then 50% of the next 3%. While this may appear to be more expensive than other 401k plans, the fact that you do not have to submit to testing is what makes it all worth it to small businesses.
Learning The “Secrets” of Services
To find out more about how your company will benefit from a safe harbor 401k plan the first thing you should do is get in touch with a 401k plan provider in your local area. When you are looking for the best 401k plans available, the first step is to find a 3(38) investment management service to help you sort through all of your options. 3(38) investment managers can help you reduce a significant amount of risk in your fiduciary planning which will benefit your company and your employees as well.
The Path To Finding Better Options
For more information about the benefits of 3(38) investment managers all you have to do is take a moment to visit the official website of a 401k plan provider in your area. To find out more about safe harbor 401k plans all you have to do is perform a search using your preferred search method for the best 401k plan providers or for a 3(38) investment management service in your area.

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