Offline 401k Suites vs. Online

I run a graphics design firm from my home that caters to a few businesses in the neighborhood. Some of my employees work from home while a couple are based in my home office. I need a 401k plan that can be accessed by all of my employees irrespective of where they work from. Christina P. Smartt, PhiladelphiaPA 19103

Christina, the best option for you is to look for an online 401k suite like the one offered at http://small401k.com/. These are software packages that can be operated by you or your employee from any place. Here is how it works.

In general, online 401k suites are the ones that are easiest to manage because you do not need to be at your desk to update records or view your account status. The software of your online 401k version is usually housed on a secure server. When you want to pull up your 401k account all you have to do is get to a computer with an internet connection, log in and start accessing the account.

A good 401k suite will let you customize the plan to match your unique needs. With a online 401k suite like this one, your work from home employees can access their account right from their homes while you and the employees working out of your home office can do so right here. Make sure to check all the features of the plan before you sign up for an online 401k DIY package. The 401k suite should give your employees the flexibility to change their investment choices, modify personal details and opt for different plan options. Of course, any new employees should also be able to view all the details about the plan and join online too.

How Does 401K Make Your Business More Appealing to Employees?

Is a 401k plan really an attractive benefit for my prospective employees? Are there any other benefits I can offer that will help me find and retain the best talent in the market in a better way? Antonio D. Mercer, Martin, SD, runs a graphics firm

Experts say that most prospective employees consider an employer sponsored 401k retirement benefit plan one of the most attractive features when they are assessing employment offers. Other than health benefits offered by the firm, there is perhaps no better benefit you can offer that makes you a more sought after employer.

A 401k plan tells a prospective employee that you are a responsible and empathetic employer. The fact that you are encouraging them to save for future does a great job in boosting employee morale. Of course, this shows in your increased productivity levels too. If you have an employee contribution match option with your 401k plan, then the employee is sure to count this point as a real big plus in your favor. After all, any contribution match that you make into his account is free money where he is concerned. The tax advantage that the employee gets results in actual savings for the employee paycheck after paycheck.

Post recession, many small businesses that previously had no such programs, realized the importance of offering a safe and easy retirement benefit plan. If you are keen on adding such a plan to your business, the process is quite simple with the many ready to use 401k software suites available today. Check out the various options you have on http://401k-network.com/, where you will find a listing of the top rated 401k suites in the market today. These suites make set up, administration and updating of these plans simple and quick so that you just need to invest a few minutes each month to keep the plan going.