401(k) Plan Options

There are many ways that we can make your 401(k) work better for both you and your employees. Do you need to pass compliance testing? Want to increase your tax-deferred savings? Improve your employees' retirement readiness? Thinking about starting a 401(k) plan for your business? Learn More

A 401(k) plan is the most flexible and well-known company sponsored retirement plan, but retirement plans can be customized  to meet your company's and employees' needs. Not all plans are the same. Take a look at some of the options you have:

Employer Match

Employer Match

Encourage your employees to defer more money by offering a match. Consider using a vesting schedule to encourage employee retention.

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401k Auto Enrollment

Auto Enrollment

Auto enrollment has been shown to increase participation rates among staff and better prepare your employees for retirement.

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401k Safe harbor

Safe Harbor

Pass most compliance testing with this option.

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401k Profit Sharing

Profit Sharing

Every year, based on your business's success, you can give your employees a retirement bonus through a Profit Sharing Plan.

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401k Business Cash Balance Plan

Cash Balance

Reduce personal taxable income and accelerate savings. Cash Balance is designed for high-net-worth owners of small businesses with steady revenue.

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Business 401k roth plan

Roth 401(k)

A Roth 401(k) option allows you and your employees to contribute post-tax earnings toward retirement.

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Compare Your Plan Options

Offering a retirement plan is a great way to attract and retain talented employees, help employees build their retirement savings and take advantage of tax breaks.
Here’s how we make the conversion process easier with the very first step—reviewing your plan options.

Employer Match
Auto Enrollment
Safe Harbor
Profit Sharing
Cash Balance
Roth
Why You Want It?
Employer Match

When your employees defer a percentage of their income, the company can match it and create parameters to match the deferral amount.

Auto Enrollment

Auto enroll employees into the 401(k) plan as soon as they qualify.

Safe Harbor

A provision added to your 401(k) plan that gives you a pass on most compliance testing.

Profit Sharing

Most flexible way for employers to defer retirement dollars to their employees.

Cash Balance

Can help business owners realize tax deductions and savings rates up to 4x more than with a stand-alone 401(k) plan.*

Roth

Roth accounts are attractive to younger employees and high-earning employees. 

Considerations
Employer Match

You can set the matching amount at a %, (i.e. match the first 3%). And you can set a vesting schedule — meaning that the 3% match vests after several years of employment.

Auto Enrollment

Set a base deferral rate for employees upon enrollment (3% for example) with an option to opt out whenever they choose.

Safe Harbor

Requires an annual employer contribution that is immediately 100% vested.

Profit Sharing

As defined in the plan document, this can be a discretionary contribution each year distributed to your eligible employees. There are several ways to allocate those dollars.

Cash Balance

Reduce personal taxable income and accelerate savings. All assets in the cash balance plan are pooled and come from the employer.

Roth

A Roth costs very little, if anything, to add on to your existing 401(k) plan. 

When Is It Right?
Employer Match

Increases employee engagement levels. Employees appreciate when companies invest in their retirement.

Auto Enrollment

Improves employee retirement readiness. If your employees are unlikely to enroll on their own they could lose out on valuable compound growth opportunities.

Safe Harbor

With Safe Harbor, the company 401(k) plan will have reduced testing requirements, and employees benefit too with an annual 401(k) contribution from their employer.

Profit Sharing

Not only are you sharing your business success with your employees, but you control how much is contributed each year—less in lean years and more in good years.

Cash Balance

Adding a Cash Balance Plan reduces the business owner's taxable income and increases the owner's savings rate, and benefits employees too with an employer contribution into their 401(k).

Roth

Add a Roth option to your 401(k) plan anytime to give your employees different tax strategies in retirement.

*Based on 2016 contribution limits and assumes a 40% tax; varies by state. Taxes are deferred.

Why 401(k) plan participation and high contributions are important:

  • It will increase your company’s tax savings by reducing your taxable income.
  • It can help the 401(k) plan pass certain annual IRS-mandated compliance testing.
  • It will help your employees prepare and plan for a comfortable retirement.