Investing in your future seems a given. Thinking of your retirement early on in your career can aid in creating the dream retirement you crave. A 401k & retirement account works to the advantage of an employee, saving money during their career. The 401k is an employer-sponsored retirement plan that allows employees to save and invest for their own retirement. Money is taken directly from an employee’s paycheck in an amount often matched by the employer, and employees can choose between fund options from the employer and the 401k provider. This account aids employees in investing in life after a career, not just the current timeline.
How Companies Benefit From 401(k) Plans
Retirement savings plans may be geared toward helping employees prepare for their future, but they also provide benefits to employers. Outlined below are some of the top benefits of offering your employees 401(k) plans.
401(k) Tax Benefits
Businesses that offer 401(k) plans can deduct the contributions on their federal income tax return in many cases. Investment gains and elective deferrals can take advantage of tax deferral until distribution. In addition, business tax credits can help to make retirement benefits like 401(k) plans more affordable.
Staying Competitive For Top Talent
In today’s competitive business environment, employees are seeking companies that offer excellent compensation and benefits. A 401(k) plan is a great way to make your business stand out to top candidates.
Employee Satisfaction And Retention
A retirement plan like a 401(k) can show your employees that you are willing to invest in their future, which can foster loyalty and reduce turnover.
Meeting State Mandates
Some states and cities require employers of certain sizes to either enroll in one of their retirement programs or set up their own qualified plan. Offering a 401(k) plan enables your company to meet state mandates and provide employees with access to a retirement plan.
How Offering A 401k Gives Companies An Edge
When employees consider your job offer, they’re already thinking about their long-term future. A powerful retirement plan can position you as a top choice for qualified candidates, and help you retain elite talent years down the line. Smart employers know the value of a well-designed retirement plan, paying close attention to deliver options that meet their employees’ long-term goals.
By having an attractive 401k plan for your employees, it shows potential prospects that you care for your work force. Attracting the top talent within any industry can be easy. Having a proper 401k & retirement plan shows potential prospects that your company is willing to invest in their future.
How New City Can Help
As an independent agency, we’ve carefully vetted the very best 401k providers. The insurance team at New City Insurance strives to provide the most premier 401k and retirement options. Our providers offer competitive fiduciary and plan designs with low costs and transparent fees, so you can achieve maximized returns. The carefully selected plans include:
- Benchmarking Data
- Dedicated Representatives
- Low Costs & Transparent Fees
- Fiduciary & Plan Design Options
- Payroll Integration
- Participant Education
Our specialized team will help you every step of the way, from answering your questions and providing benchmarking data to participant education and annual compliance adherence. We want to find the absolute perfect fit for you, no matter what.
Protect Your Future Retirement With New City
Retirement shouldn’t be a far off dream. The idea of a laid-back, successful retirement is well within grasp. In order to prepare yourself properly and attain this goal, a 401k can greatly benefit anyone’s retirement plan. A competitive 401k & retirement plan can also attract competitive potential prospects, improving the overall workforce in your business. The experienced agents at New City Insurance are here to provide you with the best 401k and retirement options. We understand that each person and company is unique, and we find solutions that work in your favor.
Don’t let your dream retirement go out of reach, invest in your leisure today. Reach out to the talented agents at New City Insurance, and watch as your dream future unfolds before your eyes. Call today by phone at 888.210.2759, or by requesting a consultation online. We look forward to working with you, and creating your dream retirement!