Did you know that 59% of Americans use a 401(k) to save for retirement?
As a business, offering a tailored 401(k) plan can give you a competitive edge.
At Ollis/Akers/Arney, we’ll guide you through the process, helping you understand the benefits, navigate the complexities, and find the right solution.
Trust us to help you maximize your human capital and address emerging risks.
Let’s secure your team’s future together.
Benefits of a 401(k)
You’re already aware that a 401(k) plan can boost your financial security and motivate you towards efficient retirement savings. But did you know it also offers tax advantages and potential employer matching contributions?
Your contributions are pre-tax, reducing your taxable income. Plus, your investment earnings grow tax-deferred until you make withdrawals in retirement.
As for employer matching, it’s essentially free money. If your employer offers, say, a 50% match on the first 6% of your salary that you contribute, that’s a 3% raise just for participating! You’d be hard-pressed to find a more certain return on an investment.
However, there are withdrawal restrictions designed to encourage long-term savings. Early withdrawals generally incur a penalty. Thus, a 401(k) plan cleverly combines immediate tax benefits with a powerful incentive to save for the future.
Tailored Solutions for Employees
In your company, it’s vital to provide tailored retirement plans that meet the unique needs and goals of each employee. By customizing 401(k) plans, you’re not only boosting employee satisfaction but also creating a competitive edge for your business. It allows employees to save for retirement in a way that aligns with their financial objectives.
Working with vetted partners, you can offer an array of investment options that cater to different risk tolerances and retirement timelines. This flexibility can enhance your employees’ financial stability and foster a sense of loyalty towards your company.
Getting Started with 401(k)
Ready to kick off a 401(k) plan at your company? It’s easier than you might think.
First, reach out to an independent agency that can help you find the right solution. It’s crucial to discuss the resources and options available to you.
Next, you’ll need to fill out a form, providing in-depth details about your company. Don’t worry, it’s a straightforward process.
If you’re in Springfield, Branson, or Bolivar, MO, you can opt for in-person meetings with agents. This way, you’ll get personalized assistance tailored to your specific needs.
After submitting the form for validation, your 401(k) plan is almost ready to roll out. Remember, implementing a 401(k) plan is not just about ticking a box. It’s about providing financial stability and a sense of security for your employees.
