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Best Small Business 401K Providers

Most employers believe the best way to attract and keep the highest qualified employees is by offering them a competitive salary. However; there are a lot of benefits that people want outside of just the regular salary they are offered. Most people expect to have their medical insurance policy sponsored by their employer. Another policy that is attractive to most people is generous paid time, everyone needs to take a break from work sometimes. But perhaps more than ever, people are worried about how they are going to save up money to be able to retire. There are a lot of ways that an employer can help people on their payroll put money away for retirement. You are going to want to find the best small business 401K providers to help give your employees a solid retirement plan.

The reason that 401K plans are such an attractive option for retirement is the money your employees put towards it does not have tax taken out of it. Plus, the money that is added will continuously earn interest as it is invested into a portfolio by the 401K provider. Almost every major corporation has a 401K plan in place that they use to retain their employees and attract new ones. Small businesses are usually more concerned with how much a plan like this is going to cost them. However; the best small business 401K providers will have plans that are affordable for your business.

There are a couple of fee the best small business 401K providers are going to charge you for you to be able to offer a plan. There is a base fee that will cover the first 30 employees, plus an additional amount per employee after. There is also an asset fee which is a small percent charge covering all of the assets tied into the plan.
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When you are looking for the best small business 401K providers you are going to have several options to choose from. You want to make sure you understand the type of fees you would have to pay to each provider. You should also make sure you choose a provider that has plans that are matching or beating the market average when it comes to returns.
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There are a lot of things that your employees are looking for when they have a job. If you are able to offer a 401K plan it can help you to attract new employees and keep the ones you have. To get this plan going, you are going to want to look for the best small business 401K providers.