ShareBuilder 401k Offers Free and Discounted Set-Up to Help Businesses Start a 401(k) and Meet the Safe Harbor Deadline of October 1
13 Agosto 2024 - 4:00AM
Business Wire
ShareBuilder 401k, a leading provider of affordable, all-ETF
401(k) plans for small businesses and medium-sized companies, today
announced a special offer to help businesses starting their first
401(k) to meet the upcoming Safe Harbor deadline – a popular
retirement plan design. From August 13 to 20, businesses with
employees establishing a new 401(k) plan will receive a free
set-up, making the process easy and even more affordable. For those
signing up between August 21 and September 3, ShareBuilder 401k
will offer a 50% discount on the set-up price.
Safe Harbor 401(k) plans offer many benefits for business owners
and their employees, including helping save for retirement, tax
savings for those contributing, as well as an assist in attracting
and retaining top talent. The Safe Harbor 401(k) automatically
satisfies IRS plan testing requirements and helps employees and
owners maximize their contributions without restrictions up to the
401(k) limits.
While matching is optional in providing a 401(k) plan, the Safe
Harbor 401(k) plan design requires an immediate vesting match for
employees, including owners. The great news for businesses with
less than 100 employees concerned about the cash outlay of
providing a match is that the recent Secure 2.0 Act upped the tax
credits for businesses starting their first plan to include added
credits to help offset employer contributions. Any employer
contribution not covered by these tax credits is typically tax
deductible for the company.
To start a Safe Harbor 401(k) plan, it must be established by
October 1. Most providers have a deadline well in advance to ensure
a company’s plan is ready to go on time and not delayed until
January 1. By taking advantage of ShareBuilder 401k's offer,
businesses can establish a low-cost, full-featured plan that
simplifies and meets testing compliance while providing valuable
retirement benefits to employees.
"Many small businesses are unaware of how affordable a 401(k)
plan is, even if you have just an employee or two," said Stuart
Robertson, CEO of ShareBuilder 401k. "Our goal is to make it as
easy and affordable as possible for any size business to offer
themselves and their employees a retirement plan. By providing free
and discounted set-up, we hope to remove any perceived cost
barriers and encourage more employers to take advantage of the
benefits of a 401(k) plan."
A recent survey from ShareBuilder 401k identified that 55% of
small business owners believe their business is too small to access
a plan or cannot afford to offer a company match (28%).
Additionally, 22% of owners believe providing a 401(k) plan is too
expensive. However, providers like ShareBuilder 401k have developed
retirement plans catering to small businesses' needs and
constraints. Coupled with the Secure Act 2.0, enacted to provide
significant tax incentives for small businesses, offering 401(k)
plans is nearly cost-neutral, helping provide a more secure and
affordable option for businesses.
ShareBuilder 401k offers a range of plans tailored to meet the
needs of different-sized businesses, focusing on low costs,
easy-to-use technology, and exceptional customer service. To learn
more, visit www.sharebuilder401k.com
About ShareBuilder 401k
ShareBuilder 401k is a leading digital 401(k) provider
specializing in low-cost, all-ETF retirement products and resources
for small- to mid-sized companies, including owner-only businesses.
Founded in 2005, and now serving more than 6,500 businesses across
the US, ShareBuilder 401k is a pioneer of the index-based 401(k),
digital quoting and purchasing of retirement plans, and providing
investment management (ERISA 3(38)) services for every client’s
fund roster. ShareBuilder 401k is committed to expanding access to
retirement plans and leading more Americans to save through
cutting-edge technology, low costs and quality education and
support.
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Patrick Mendoza, mendozap@aristoscomms.com