The 401(k) plan has a bad reputation amongst small business employers, and we can’t blame them. Some options are too expensive to set up and some aren’t flexible to fit a small business’ needs. Many employers realize there’s a lot of administrative work involved to get one off the ground and to maintain—reasons enough to scare small business employers away.
But there’s good news! There are plans available to small business employers that actually work. How can you be certain you’re picking the right one to fit your business needs? This guide provides you with the information you need to set up and operate a 401(k) plan. In addition, this guide works to dispel the myths associated with a small business 401(k) plan and gives a recommendation for the best path forward.