, /PRNewswire/ — This summer is closing out with sizzling new job data from the US Labor Department: 130,000 more jobs were created in July compared to June. With new job creation comes new job incentives, such as 401(k) plans to help attract potential employees. In creating these incentives, many business owners are learning the rules of running 401(k) benefits for the first time. Many small businesses prefer the simplicity of the Safe Harbor 401(k) plan design. To start this retirement plan type, it must be set up by October 1 to meet the IRS deadline. ShareBuilder 401k has a special offer for any business with employees looking to set up a new Safe Harbor 401(k) plan.
The Safe Harbor 401(k) plan features a variety of benefits and savings for business owners seeking to lower taxes, save for retirement, and help attract and retain top talent. As an added benefit, the Safe Harbor 401(k) automatically satisfies IRS testing requirements and enables the option for any employee, including high earners, to maximize their 401(k) contributions. Considering all 401(k) plans (except Solo 401(k)s) are subject to government tests, the Safe Harbor plan makes 401(k) management easier and more efficient.
Starting today, businesses who sign up for ShareBuilder 401k’s Safe Harbor 401(k) plan can receive:
50% off Safe Harbor and Traditional Plans set up between Aug. 19–Sept. 12 OR
25% off Safe Harbor and Traditional Plans set up between Sept. 13–25
Stuart Robertson, CEO of ShareBuilder 401k shares insight on relevant 401(k) pricing and tax credits for small business owners. “401(k) plans are a lot less expensive than many businesses think—for example, a plan of 10 employees will pay less than $100 per month,” he says. “Any business with fewer than 100 employees that opens their first 401(k) plan can receive a tax credit that is designed to cover half of these costs—up to $15,000 for the first three years.
“We know rising costs are putting pressure on company’s profit margins, so we want to help show them ways to keep expenses down while still staying competitive for top talent.”
The federal deadline to start a Safe Harbor 401(k) plan is October 1. However, businesses need to enroll for a 401(k) by Sept. 27, as it typically takes a few days to set up the plan and ensure the October 1 deadline is met. Businesses that miss the Safe Harbor 401(k) deadline but still start a new plan will face additional monitoring, testing, and potential limitations on how much owners and other high earners can contribute annually.
In an ever-evolving and expanding job market, 401(k) plans are recognized as an important employee incentive. ShareBuilder 401k positions itself as a low-cost and high service investment management solution for any size business. By pioneering the all-index based 401(k) plan using ETFs and the digital purchase of 401(k), ShareBuilder 401k continues to innovate and help small business owners save money.
About ShareBuilder 401k
ShareBuilder 401k is a leading digital 401(k) provider specializing in low-cost, all-ETF retirement products and resources for small- to mid-sized companies, including owner-only businesses. Founded in 2005 and now serving more than 6,500 businesses across the US, ShareBuilder 401k is a pioneer of the index-based 401(k), digital quoting and purchasing of retirement plans, and providing investment management (ERISA 3(38)) services for every client’s fund roster. ShareBuilder 401k is committed to further expanding access to retirement plans and leading more Americans to save through intuitive technology, low costs and quality education and support. More information on the company can be viewed online at: https://www.sharebuilder401k.com/
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SOURCE ShareBuilder 401k