Convenience shouldn’t be the reason why a 401(k) plan is administered by your payroll provider. Some payroll companies have created 401(k) departments as a way to increase revenue. However, it’s never a good idea for the plan sponsor to combine these services. Why? Hidden costs, lack of flexibility, and compliance. There are some great payroll […]
There’s been a lot of talk lately about company retirement plans, including arguments both for and against the value they create for business owners. While some suggest that the effort, expense, and liability involved in sponsoring a plan brings more trouble than it’s worth, it’s hard to argue against the immense opportunity that a well-designed […]
As an employer sponsoring a 401(k) plan, you’re tasked with a great amount of responsibility. When it comes to requirements like choosing proper investment options, understanding distribution regulations, and properly filing government reports, many business owners are pushed out of their comfort zones. Luckily, no one expects you to know how to do it all. […]
2018 is upon us. It’s the time for New Year’s resolutions, new gym memberships, and the desire to start the year with a clean slate. For 401(k) plan sponsors, this can mean cleaning up those small outstanding items that have lingered throughout 2017. Here’s a checklist of items to help you get started.