Attracting and retaining talented employees is important to any business. And providing a way to save for retirement can help you achieve this. Any type of business can set up a 401(k) plan, which is designed to let your employees defer part of their salary for retirement savings – and let you help by making optional tax-deductible matching contributions. Let Edward Jones help you determine if this plan makes sense for your business.
Employee contributions make up the majority of the funding. A 401(k) plan can allow larger deferral options or larger employer contributions than a SIMPLE IRA. This type of plan can be complex, and it requires an administrator for the compliance, plan maintenance, record keeping, IRS Form 5500 filing and required testing.
How we can help
A financial advisor can help you determine if a 401(k) plan makes sense for you and your business. We will talk about your personal situation and help you compare options that meet your needs.