The idea that 401(k) plans are too complex or costly for small businesses is becoming outdated. We understand the juggling act of running a business while managing employee benefits. Recent changes under SECURE 2.0 have made retirement plans more accessible and beneficial for everyone involved. It’s time to rethink your assumptions about 401(k)s in today's market.

401(k) Accessibility for Small Businesses

• Fewer than one in four small businesses currently offer a 401(k), but this number is growing as awareness increases.
• Businesses with up to 100 employees may qualify for up to $5,000 per year in tax credits for plan startup costs for the first three years.
• There's an additional credit of up to $1,000 per employee for employer contributions, offering substantial savings.

How Auto-Enrollment and Design Boost Participation

• Auto-enrollment is now standard for most new 401(k) plans, significantly boosting participation rates among employees.

Attracting Talent and Reducing Expenses

• A well-designed 401(k) plan can help attract and retain top talent while also lowering your taxable income.
• Both plan expenses and employer contributions are tax-deductible, adding to your financial benefits.

Explore the New 401(k) Landscape

With more flexible and affordable options than ever before, now is an ideal time to consider offering a retirement plan. Offering a 401(k) is no longer a heavy administrative or financial burden for small businesses. Explore your options now to stay competitive in attracting talent.

Speak with a financial or benefits advisor to create a plan tailored to your needs.