Any size business, any type of business, can have a 401(k) Retirement Plan.
Small businesses have historically encountered several problems and issues when sponsoring a qualified retirement plan, like a 401(k) plan, such as:
- High administrative costs and plan fees
- Plan designs that fail to allow meaningful contribution levels for the business owners
- Plan designs that fail to allow meaningful contributions for key employees
- Insufficient investment options
- Poor enrollment due to insufficient employee education
- Difficulty in complying with ERISA Section 404(c)
- Unresponsive administrative services from a low-cost plan provider or TPA
- Providers that cannot afford an expert for guidance on design issues
Life Solutions can help virtually any size business design, implement, enroll, and administer a 401(k) plan, including plans with as few as one participant.
Do you want to know more? Call us today at (800) 680-5596.