Compare Employee Retirement Prices BUYERS GUIDE 2021
What to look for in employee retirement plans
In 2021 a typical budget for a company operating a 401K for its staff ranges be between $5,150 and $12,700. Providing this type of benefit to your employees is an excellent tool in a competitive market where the best employees have their choice of positions. An employee retirement plan shows that you have a long-term dedication to your employees, and want to help them provide for themselves and maintain a standard of living once their working days come to a close.
The most important buying tip when shopping for employee retirement plans is to find a plan that is hands-off from the client end. In the past, some sellers of these plans would sell you a service that still required a massive amount of work from your end to administer the plan. A full-service plan is much more time effective, and not much more expensive. For most people not directly involved in financial services themselves, this is the more practical option.
There are other options out there besides a 401K, although that is the most traditional employee retirement plan for large corporations to offer. Small companies can look into IRA options instead, which may be more cost-effective and flexible for companies with small or self-employed staff.
Compare Employee Retirement Plan Pricing
|401K Plans||Profit Sharing||Roth IRA||Payroll|