Until recently, many small businesses shied away from
offering a 401(k) plan to their employees based on financial
constraints and other concerns. Fortunately for small
business owners, startup 401(k) plans are now much more
affordable thanks to legislative changes.
If you’re considering offering a 401(k) retirement savings plan to your employees, it’s important to understand what they are, how they work, and how to go about starting one with the right advisor.
Many plan providers try to bury costs, making it difficult to determine what you're truly paying. Look for transparent pricing that clearly shows all fees and charges.
Setting up a plan can seem onerous. Look for a provider that offers personalized assistance with setup to make the process smooth and efficient.
A plan's technology platform should be easy to utilize for both the employer and employees alike, making administration and participation seamless.
The provider should ensure your plan's compliance with both IRS and Labor regulations, taking this burden off your shoulders.
Look for a provider that gives you access to a wide assortment of fund and design options, allowing you to design the right plan for your company.
At TTG Financial, all of our 401(k) advisors are Fiduciaries— obligated to put your interests above their own and disclose any potential conflicts of interest.
Starting a 401(k) plan offers significant advantages for your
business: