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401(k) Plans for Your Employees

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 understand the plan options available for your business.

Highlights

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 compliance, plan maintenance, record keeping, IRS Form 5500 filing and required testing.

Contribution features

  • Participants can make the maximum salary deferral contribution.
  • Participants may elect to make Roth deferral contributions.
  • As the employer, you can choose whether to contribute and how much within certain limits.

Deadlines

  • You must establish this plan by your year-end.
  • You must deposit salary deferrals no later than the 15th business day of the month following the month of deferral.
  • Your employer contributions may be deposited up until the business tax-filing deadline, including extension.

How we can help

Your financial advisor can provide information about the types of retirement plans available.

Important information:

This information is for educational purposes only. Edward Jones, its employees and financial advisors cannot provide tax or legal advice.

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