Low Cost 401k Plans

I want to offer my employees a 401k plan but I cannot afford to pay huge fees to administer it. Where can I find a low cost 401k plan that will suit my needs perfectly?- Santo E. Diamond, Saginaw, MI 4860, runs a delicatessen catering to his neighborhood.

Santo, establishing a 401k plan is a great idea for your employees and also for your business because of the many tax advantages it offers. Your employees are sure to appreciate the fact that you are helping them save for their future in the most effective way possible. In fact, many small businesses like yours find that talented youngsters prefer to come work for them when they have such plans to offer instead of bigger concerns that do not show as much concern for employees. But it is definitely important for you to set up a plan that you can easily afford.

Typically, 401k plans offered by large providers end up quite expensive for the small business owner. That’s why, in recent times, DIY plans have become really popular, especially among small businesses like yours. You will find such DIY plans at sites like http://401keasy.com/ where there is also a lot of information about 401ks in general and the DIY plans in particular.

These plans let you eliminate the huge administrative fees that you would be paying your plan provider. In fact, by handling the plan administration in- house, businesses like yours have saved thousands of dollars each year. Such plans come with detailed instructions on how you can manage the account, update records and track the plan so that you can administer the plan yourself like a pro within a short time. Even if you have an existing plan with another provider you can convert to a DIY 401k suite like this one with the minimum of fuss and hassle. In your case, you can simply set up your very first DIY plan with a site like this one in minutes and ensure that you provide a great way for your employees to save for retirement without burning a hole in your pockets.

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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