Customizable 401k Plans

Why should I choose a 401k plan that offers customization? Where can I find affordable plans that can be customized? Marvin M. Huerta, Reeves, LA 70658, runs a bakery supplying home baked products to his neighborhood.

Marvin, a customized plan is the best choice when you want to set up a 401k retirement savings scheme for your small business. When you employ people, you cannot choose only those whose investment ideas match with the rest of your employees. Every employee will have a different savings plan and varying risk appetites. The same investment avenues may not be right for all employees. Giving your employees the freedom to invest the funds in their 401k however they please across a range of options that are suitable for them lets them control how and how much they save for their retirement. A customized plan lets you determine the kind of investments you want to make available.

Customization also gives you a great deal of control over what is and is not available for your employees. For instance, you can choose a 401k plan that does not allow loans if you want to ensure that your employees save the maximum possible for their retired years. You can even choose to do away with employer contributions if you want to opt for a performance related contribution rather than a fixed one.

There are a number of DIY suites available on the internet that give you customized 401k plans. These plans are by far the most economical ones you will find. Choose a tried and trusted one like http://smallemployer401k.com/ that has good reviews from users. Make sure that product support and pricing is excellent before you make your final decision to buy the 401k suite for your business.

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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