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7 Questions to Ask When Considering Offering a 401(k) Plan to Employees

Employee Benefits

There are many factors to consider when choosing a retirement plan for your employee benefits package. Offering 401(k) benefits for employees doesn’t just affect your workforce; it also impacts your business – particularly when picking a 401(k) administrator and determining how to handle plan management. Watch our video and get answers to key questions about offering a retirement plan, including:

  1. Do you plan to tackle the challenge yourself or outsource 401(k) administration to the experts?
  2. Do you want to deal with a payroll processor, a 401(k) recordkeeper, and a third-party administrator separately, or use a single-service provider?
  3. Do you want a flexible, scalable retirement plan that can grow to meet the changing needs of your business?
  4. Do you want to be able to maximize the contributions of yourself and/or highly compensated key employees?
  5. Do you want online aids for 401(k) enrollment, participation, communication, and management?
  6. Do you want your financial advisor involved when you set up your retirement plan for employees?
  7. Who is the largest 401(k) administrator in the United States?
This website contains articles posted for informational and educational value. Paychex is not responsible for information contained within any of these materials. Any opinions expressed within materials are not necessarily the opinion of, or supported by, Paychex. The information in these materials should not be considered legal or accounting advice, and it should not substitute for legal, accounting, and other professional advice where the facts and circumstances warrant.