A 401(k) plan is no longer reserved for mid to large scale enterprises. In fact, according to the latest Spark 401k Small Business Retirement Index, 94% of small business owners who offer 401(k) plans to employees recognize it supports recruitment and retention. The biggest hurdle for many small businesses considering offering a 401(k) is their own misconception that they are too small to offer one. The reality is, any small business including self-employed can and should offer a 401(k) plan. 401(k) costs are now lower than you might think and many afford meaningful tax incentives.
BRS is Vermont’s leading strategic partner for small business 401(k) plans featuring: