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Finding the Best 401k Plan for Your Small Business

Small business owners certainly understand just how difficult it can be for a small business owner to offer their employees a competitive benefits package that includes a low cost 401k plan. It has been the dream of many small business owners to be able to offer their loyal employees competitive benefits like a quality 401k plan. For this reason, 3(38) fiduciary companies are now offering a variety of 401k plans, including safe harbor 401k plans that are incredibly beneficial to their business as well as their employees.

A safe harbor 401k plan may be perfect for any small business that would like to provide their employees with a viable retirement benefit at a price that the business can afford. For the employer, one of the advantages of a safe harbor 401k plan is the fact that they are not subject to Top Heavy and ADP/ACP testing. It is this fact that makes safe harbor 401k plans easier to manage for many small businesses.

If you have employees who are quickly approaching retirement age, a safe harbor 401k plan may be perfect for you. An employee who is close to reaching retirement age can save as much of their income as they wish in a safe harbor 401k plan. And their employer is required to contribute 100% matching funds ups to the first 3% and 50% on the next 3%.
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There are sure to be many of you who are wondering how the employer actually ends up benefitting from offering employees a viable 401k plan? A viable 401k benefit will make your best employees think twice about leaving your company, especially if you offer a quality safe harbor 401k plan. Small businesses have had trouble retaining quality staff for many years because they could never match the benefits packages that quality staff could get from larger firms. By implementing a safe harbor 401k plan for your company, you will be able to offer a retirement benefit that can compete with those being offered by larger firms.
The Path To Finding Better Funds

When you are in the market for the best 401k plan available for a small business, the first thing you should do is take a closer look at what is available from a 3(38) fiduciary manager. By simply taking a minute to visit the website of a 3(38) investment management company, you will be able to read all about how your business will benefit from 3(38) fiduciary management services. The best way to begin is to perform a search using your favorite search engine for the best 401k plans available for small business or a 3(38) fiduciary manager in your local area.