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The Advantages of a 401(k) Plan for Smaller Businesses

According to a Paychex survey, 53% of small business owners don’t think they can afford a retirement plan. In reality, 401(k) plans can be started by any size business with just about any size budget.

In this video, we’ll dispel the myths, give you the facts, and discuss the advantages of a small business 401(k) over an IRA or other plans. In addition, we’ll talk about benefits you may not have thought of, such as how the higher contribution limits of a 401(k) can help you start putting away substantial savings right away. Or how a 401(k) plan can help attract and retain employees in a competitive job marketplace.

Topics include:

  • The top 5 myths about 401(k) plans
  • Facts about 401(k) for small business
  • 401(k) advantages versus IRAs
  • 2019 plan comparison
  • How a 401(k) can help you stay competitive
  • Plan administration

As one of the nation’s leading providers in 401(k) recordkeeping services*, Paychex can help you find a plan that’s right-sized for your business. We hope this video inspires you to start saving for retirement now, so that you and your employees can have a more secure financial future.

*PlanSponsor Magazine, 2018

* This content is for educational purposes only, is not intended to provide specific legal advice, and should not be used as a substitute for the legal advice of a qualified attorney or other professional. The information may not reflect the most current legal developments, may be changed without notice and is not guaranteed to be complete, correct, or up-to-date.

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