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A small business owner's guide to starting a 401(k) plan

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Interesting slide shows about the world Slideshow World by [A small business owner's guide to starti

Interesting slide shows about the world Slideshow World by [ArcaMax](?ezine=782&r=Clx4DU-fbTxaVrJCYuLsL3zMiJI1GsLwb-e8cNlkC3JDOjMyNzAwODM2NDpKOjIxNTE1ODk6TDo3ODI6Ujo5NjA1NjM6Vjo0Mg) [A small business owner's guide to starting a 401(k) plan]( Dom DiFurio [ A small business owner's guide to starting a 401(k) plan ]( [See full slideshow »]( As a small business owner, planning for employees' retirement may sound daunting, but it doesn't have to be. To help demystify the process, Guideline compiled this list of introductory tips about 401(k) plans for small business owners using information from a variety of sources, including the IRS and theDepartment of Labor. There are many different approaches to create a 401(k) plan that fits a company, and while there is no one size fits all approach, this beginners' guide can help business owners begin to explore options. Whether it's a traditional 401(k), a profit-sharing plan, or another retirement plan altogether, defined-contribution plans can provide your workers with more peace of mind about their futures. In fact, some states like Oregon, Illinois, and California have passed legislation requiring employers to allow paycheck deductions for retirement savings. A 401(k) may be one of the simplest ways to differentiate your job benefits from peer companies in today's tight labor market. There are nearly twice as many openings as there are workers looking for jobs, according to July 2022 data from the Labor Department's Job Openings and Labor Turnover Survey, so making your company's benefits more appealing can help with recruitment. As of 2021, nearly 63% of U.S. households—which represents about 82 million Americans of all ages—had either an employer-sponsored retirement plan or IRA. And when it comes to small businesses, 58% of workers at companies with fewer than 100 employees have access to retirement benefits, per March 2021 data from the U.S. Bureau of Labor Statistics. These plans held assets totaling around $7.3 trillion in the first quarter of 2022, according to data from the Investment Company Institute. This guide can help small business owners take part in boosting the ratio of Americans with access to retirement benefits—because planning ahead is good for business, workers, and the U.S. economy. Visit thestacker.com for similar lists and stories. [Tweet It]( - [Facebook It]( Sponsor [ Your Favorite Comic Strips ] Your Favorite Comic Strips Enjoy free comic newsletters by subscribing below or check them out at [arcamax.com/comics.]( [*NEW: The Argyle Sweater]( [*NEW: Crabgrass]( [*Fowl Language]( [*Between Friends]( [*Caption It!]( [*Rose is Rose]( [*Daddy Daze]( [*Cathy]( [*Family Circus]( [*Wizard of Id]( [*Pickles]( [*Mother Goose And Grimm]( [*Dilbert]( [*Baby Blues]( [*Hagar the Horrible]( [*Speed Bump]( [*Pearls Before Swine]( [*Zits]( [*Peanuts]( [*Diamond Lil]( [*Luann]( [*Garfield]( [*Bizarro]( [*Rubes]( [*Rhymes With Orange]( [*Long Story Short]( [*Carpe Diem]( [*For Better or For Worse (classic strips)]( [*Red And Rover]( - From the ArcaMax editors More Slideshow World from ArcaMax.com - [Visualizing three decades of animal agriculture emissions in the US]( - [10 unforgettably terrible bosses from movie and TV history]( - [In honor of Dictionary Day on Oct. 15, here are words that mean different things in the US and abroad]( - [Musicians with their own museums]( [Click To Unsubscribe]( | [Customer Service]( | [Privacy Policy]( | [California / Nevada Privacy Info]( 11830 Canon Blvd Suite A, Newport News, VA 23606 Copyright © 2022 ArcaMax Publishing [Facebook]( [Twitter](/ArcaMax)

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