Learn the Benefits of a 401(k) For Your Team

You’re running your dream business, and have some truly talented people on board.

But as the months progress, you hear employees clamor for it more and more: a 401(k) plan in their benefits package.

As it turns out, a 401(k) is in the top five on a list of company benefits that employees expect the most, next to other basics like health insurance and paid time off.

Unlike some other retirement accounts, a 401(k) is employer-sponsored. Employees deposit income pre-taxes into their 401(k) accounts and withdraw them later at a taxed rate.

Because pre-tax savings are part of a 401(k), it’s an advantage many employees would like — and some expect — when they’re looking at a competitive benefits package.

If you worry offering a quality 401(k) plan is out of your reach, reading up on the basics might help you weigh your decision.

That’s why we made this eBook. Here’s what you’ll find inside:

Company Benefits of Offering a 401(k) plan

As a small business, you may hesitate when it comes to offering a 401(k) plan. However, there are a lot of major benefits to your company, such as recruiting advantages, talent retention, and an alternative to high salaries.

401(k) Plan Types

As it turns out, there is more than just one type of 401(k) plan. This eBook will walk you through the details of a few different main types, including:

Learn the different main types, including:

• Traditional 401(k)

•  Safe Harbor 401(k)

• Tiered/Advance Profit Sharing 401(k)

The eBook will also discuss how to choose the right one for your company, weighing in factors such as what is popular and desired versus what you can afford to offer and what fits your company size best.

How Employees Benefit From a 401(k)

Did you know that many 401(k)s permit loans with special conditions for reasons such as the purchase of a residence or hardship withdrawals? This section outlines some of the other employee advantages for a 401(k), such as:

• Convenient Savings

• Tax-Deferred Contributions

• Investment Gains

How Justworks Can Help

Most employees expect a 401(k). We’ll give you a quick overview of the benefits, like 401(k) Justworks customers have access to.The eBook also overviews how Professional Employer Organizations (PEOs) can offer small businesses better access to enticing perks and benefits than they could otherwise find or afford on their own.

You can download it here.