An important component to the American Dream is what comes after decades of hard work—a happy, financially-secure retirement. Though there are many ways that your employees can save for the golden years, 401(k) plans provided by the employer can be an extremely valuable benefit. Not only do both employers and employees typically contribute to an employee’s 401(k), but these plans are also taxed much differently than other types of savings.
As an employer, providing your employees with 401(k) options can attract more talent and help you hire a higher caliber of candidate. Retirement savings plans are the most sought after employer-provided benefits, with 91% of employees citing them as a reason for accepting or keeping a job (via U.S. Office of Personnel Management). If you’ve decided to invest in your employees with a 401(k) program, there are a lot to consider before choosing a provider.
Download the Business.com Guide to 401(k) and learn more about:
- Types of 401(k) Plans
- Choosing a 401(k) Plan
- Calculating Costs
- Purchasing Tips
- And more!