When you’re running a business, taking care of your team is important. But sometimes, it’s hard to decide which benefits you should offer your employees, or what exactly they want. You might find yourself asking, How does a 401(k) work? Should I offer 401(k) benefits to my employees? And what types of 401(k)s are there?
We’ve made this content roundup on 401(k) accounts to help you answer some of those existential questions.
Below, you’ll find a primer on 401(k) benefits, tips on how to choose the right provider for your company, and the reasons it may benefit the long-term health of your business.
401(k) Savings 101
If you have some fundamental questions around the nature of a 401(k) savings plan, this is the place to go. This blog post includes a basic overview of what a 401(k) is, and the various benefits employers can reap from offering a 401(k).
Picking the right 401(k) benefits provider for your company is no small feat. How do you know which one will work best for you and and your employees?
Get the down low on 401(k) and other employee savings.
We go over some of the key aspects to look for in a quality 401(k) provider, including:
Ease of administration - How easy is it to administer your company’s 401(k) account?
Ease for employees - How easy is it for your employees to use their 401(k) account? Will they have to go through a third party to change investments, or will they have a modern, self-service platform?
Fewer fees - Not all fees are created equal. Make sure you’re shopping around for the best deal. It may save your employees hundreds of thousands over their lifetime.
Multiple-employer plans - Learn what a multiple-employer plan is, and how your company could save thousands of dollars without an annual audit.
Is offering a 401(k) retirement account to your employees worth it? According to a study by Glassdoor, 31% of employees prefer a retirement plan over a raise. This blog post outlines why offering a 401(k) will bolster the overall health of your business.
As you may know, benefits make employees happy — and happy employees perform even better. How will your team benefit from a 401(k) account? Let us count the ways.
BONUS eBook: Saving for the Future
Instead of reading several different articles, get the bulk of your information here. This eBook goes over important aspects of 401(k)s, including:
The company benefits of offering a 401(k) plan
Different 401(k) plan types
How employees benefit from a 401(k)
How Justworks can help you out
You can download the eBook for free here.
This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, legal or tax advice. If you have any legal or tax questions regarding this content or related issues, then you should consult with your professional legal or tax advisor.