A Company Retirement Plan as Affordable as it is Necessary
If you’re not currently offering a retirement plan to your employees such as a 401(k) or SIMPLE IRA, that can be a hidden business liability. As the job market picks up and presents more opportunities for workers, they’ll be scrutinizing their benefits packages and looking for reasons to stay with you. For as little as a dollar a day you can help give your employees the means to save for their futures – such as a 401(k) or SIMPLE IRA — and give them a reason to think twice about looking for work elsewhere.
Get Convenience, Peace of Mind and Tax Savings
Administering your company’s retirement plan can eat up a significant chunk of time. Employers with a 401(k) plan spend an average of 48 hours each month on administration tasks.* Even with all that time spent managing their retirement plans, many employers still aren’t completely certain that they’re meeting their fiduciary requirements. Others find the prospect of starting and managing a plan so overwhelming that they forgo it altogether – and in the process give up the potential to realize tremendous tax savings, for themselves and for their employees.
Lisa in our accounting department really likes the ease of administration…[and] she is now focused on more strategic initiatives. The Trustees also like not having to act in that capacity anymore and the reduced liability they get using ADP Retirement Services.
– Brenda Frank, Hillis-Carnes Engineering Associates, Inc.**
Which Plan is Best for Your Needs?
* ADP Payroll and 401(k) Integration Study - 2010, conducted by Spring Consulting Group and Mathew Greenwald & Associates.
** Not all clients will experience the same results. ADP has not compensated any clients for the included testimonials.
*** SIMPLE IRA plans are only available to ADP EasyPaySM and RUN Powered by ADP PayrollSM clients.