Even the Smallest Businesses Should Offer 401(k)

A 401(k) isn’t just for big corporations – it’s a game-changer for small businesses too. Here’s why:

Attract & Retain Top Talent

Employees want more than just a paycheck. A strong retirement plan makes your business stand out and keeps your best workers from jumping ship – especially if you do any kind of matching.

Tax Savings for You & Your Business

Offering a 401(k) can reduce your business’s taxable income. Employer contributions are tax-deductible, and your business may qualify for tax credits just for setting one up.

Your Own Retirement Security

Even though you own the business, you need a solid retirement plan too. A 401(k) helps you, the W2, save more efficiently while getting tax benefits.

Boost Productivity & Morale

Financially secure employees are happier, more focused and more productive. A 401(k) shows you care about their future. Turns out, people like that.

Flexible & Affordable Options

Modern 401(k) plans are easier and cheaper to manage than ever. Many providers cater to small businesses with low fees and simple setup. Be wary of bundling your business’s 401(k) offering with, say, your payroll provider. We have lots of thoughts about that. 

Bottom Line

A 401(k) isn’t just a benefit for you and your employees – it’s a smart business move. It saves the business money while simultaneously helping you compete for top talent. And it doesn’t hurt that it also helps secure your own financial future.