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.
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.