401(k) plans for your employees
Edward Jones partners with business owners to help set up employee 401(k) plans. We'll also help you determine if this type of plan makes sense for your business.
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.
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.
- 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.
- 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 local Edward Jones financial advisor can provide information about the types of retirement plans available.
This information is for educational purposes only. Edward Jones, its employees and financial advisors cannot provide tax or legal advice.