Features to Look for in 401k Suite

I am opening up my own pet boutique based out of my garage. I will be employing a couple of other people to help me out and I want to set up a 401k plan for my business. I am looking for a DIY 401k suite that will take care of the entire set up and administration yet be simple enough for me to use without hiring technical help as well. Gregory D. Cooper, KY 42056

Gregory, a DIY 401k suite will definitely make setting up your 401k plan easy. Most of these plans are also designed to make monthly updation of your accounts simple and fast so that you only need to spend a few minutes each time. For a small business like yours this is really the best deal.

As for being able to use it without extra technical help, you should make sure that the following aspects are covered when you shop for your 401k suite:

  • Your suite should be able to run on any platform- PC, Mac, Unix or others. In case you want to change to another system in future, this feature will ensure that you can simply move your software to the new system without hassle.
  • Make sure that your existing internet connection will suffice for the 401k plan. If possible try out a demo version using your internet connection to ensure that you can use it without trouble. If you are planning on upgrading your connection in future, then the best 401k package for you is one that can work with all types of connections includingDSL, ISDN or even dial up. While you are at this, also check if the 401k works with all of the popular browsers like Internet Explorer, Google Chrome, Firefox etc.
  • Avoid 401k packages that are top heavy with ActiveX or Java applets that can slow down the overall performance especially if you use slow speed connections. What you need is a reliable and efficient 401k management package like http://smallbusiness401k.com/ that comes without extra frills that hamper its usability.

You can browse online to see what other users are saying about the various packages that are available online. Make sure to try demos of a few before you decide on one.

Tips on Choosing a 401K Suite

I want to use a ready made 401K software suite to set up a 401K plan for my small business. How do I find the perfect suite? Jessica Seamus, Atlantic City, runs a florist chain.

A 401K software suite is the best tool to set up and manage your small business 401K plan. There are number of such suites available online and it can be quite a challenging task to pick one. Here are some tips:

  • The cost is one of the primary factors to consider. Compare costs of the different options available alongside the features to find a suite that offers the most value for your money.
  • Investment choice is definitely a must have with a 401K software suite. Different participants may have different investment needs and your 401K should be able to fulfill them all. Choose a suite like http://low-cost-401k.com/ that offers a complete range of no load mutual funds.
  • A versatile package is the easiest one for you to work with. Your 401K suite should allow you to make changes and adapt the plan to your business’s growth with ease. You should be able to change preferences, add or remove participants, track loans etc with your package.

Great support is essential if you want your 401K program to run without a hitch at all times. Friendly support is especially important during the initial stages when you are still familiarizing yourself with the workings of the package. Look for a suite that offers step by step set up and operation guidance in addition to skilled support on both plan related as well as software related issues.