AN SMB ROADMAP TO
Present a Pooled Employer Plan to Your Employees
We’ve all heard the term 401k and maybe even know it’s a type of retirement plan, but what exactly goes into a 401k and how can you and your employees get the most out of it?
In this eBook, we’ll go over:
- What a 401k and pooled employer is.
- How SMBs can benefit from offering a retirement plan.
- Types of plans and their options.
- What you can share with your employees to help boost participation in your retirement benefits.
Sneak Peek Into The Book
Why should you offer a 401k?
In a competitive job market, offering a retirement plan is not only essential to maintaining a positive business reputation, it also works wonders when it comes to attracting and retaining top talent.
Get your team excited about a 401k!
Start by letting your employees know the purpose and importance of a retirement plan in saving up for the future. It may seem like a no-brainer to you, but it’s easy for everyone to get caught up in everyday worries and forget about saving for tomorrow.
Types of PEP’s
The most important features for employees to be aware of are the ability to borrow from the fund, perhaps to make a down payment on a house, and to withdraw funds in the case of an emergency, such as an unexpected medical expense that insurance didn’t fully cover.
401k’s Shouldn’t Be Complicated!
401ks can be a complicated topic to tackle, but don’t let that deter you from taking advantage of the many benefits that come from offering a plan. If you’ve read this far, you now have a good foundation to make an informed decision on how you can leverage a 401k in your business and make it a desirable benefit for your employees.
The most important next steps are to see what type of plan your employees are interested in and to familiarize yourself with the terms of the plan. Take the time to tell your employees about the potential benefits of a 401k, and that they can always start small by building their nest egg.