Using 401Ks to Attract Talent to Your Small Business

I am having trouble finding talented staff for my gifts and antiques outfit. Will a 401K make my shop an attractive employer?- Lucas Daniels, Houston

Setting up a 401K for your small business is definitely a good way to lure the best talent in the market. Today, Americans are thinking twice before spending money and they are stashing away more than ever before for their golden years. A 401K plan lets them save for their future in the best possible way.

Every dollar that goes into the employee’s 401K is pre-tax money so that means he/ she saves money when making out the tax check to Uncle Sam. Plus, their contribution comes directly from their paycheck even before they can get hands on it. Because the money is credited directly into the retirement saving plan, there is no question of the employee failing to make a contribution. A 401K is one of the most reliable and beneficial retirement saving options in the market today and having such a plan for employees does make you a good employer to work for.

You can even make it easy for the employee to track and manage his 401K by choosing to sign up with a comprehensive 401K software suite like http://runityourself401k.com. This tool gives immense control to you, the employer and the employee participant over the 401K account. You can manage and update the account in minutes and your employee can track his payments and account balances with the greatest ease.

Offering attractive employer contributions to match your employee’s deposits is another way in which you can use your small business 401K to lure the cream of the skilled workforce in your locality.

About Elliot Earl, Director, Pension Trade Association
Director, Pension Trade Association Founded in 1982, the Pension Trade Association [California Domestic Nonprofit Corporation #C1629080] is dedicated to helping workers save for their retirement through expanded coverage of 401k -type defined contribution pension plans.

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