401 K Plans For Small Business

401 K Plans For Small Business-16
Plans that don’t require employer contributions cost your company less, but may be at risk of plan failure.Here are three popular plan types, along with some pros and cons: There are very specific rules about how contributions are structured in these plans.

Plans that don’t require employer contributions cost your company less, but may be at risk of plan failure.Here are three popular plan types, along with some pros and cons: There are very specific rules about how contributions are structured in these plans.

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As you can imagine, building Guideline 401(k) put me through a 401(k) information boot camp.

In this post, I hope to provide Square sellers with the information they need to get started by outlining the first six steps you need to take.

Most often, this is accomplished via a summary plan description that’s circulated on a recurring basis, detailing information about your plan and its benefits, along with other documents related to fees.

Once the above steps are done, it’s time for you and your employees to start saving.

For Square sellers, the integration transfers information from Square Payroll to Guideline, making contributions automatic and eliminating the need to manage employee enrollment and send payroll contribution reports every pay period.

The integration relieves you of many administrative burdens of the plan, allowing you to spend time focusing on what’s most important: your business and its employees.

You can schedule a free call with a specialist today here.

Kevin is cofounder and CEO of Guideline, the modern and affordable retirement plan that automates all the heavy lifting involved in offering a 401(k).

It’s all spelled out in our Safe Harbor 401(k) guide if you want to learn more.

Once you’ve selected a plan type, you need to adopt a written document that — according to the IRS — “serves as the foundation for day-to-day plan operations.” That language may sound a little intimidating, but your 401(k) plan administrator usually handles this paperwork for you.

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