Change Can Be a Good Thing… with Planning
Is your 401(k) working for you the owner group and your employee? If your 401(k) plan isn’t a good match for your company, it may leave your company at a competitive disadvantage for attracting and retaining talent and may also limit contributions for owners. All 401(k) plans must undergo certain compliance testing requiring a certain level of employee participation, and low participation rates from employees in general, tend to result in contributions being returned to owners, resulting in additional taxes.