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10 Tips for Evaluating a PEO for Your 401(k) Administration

10 Tips for Evaluating a PEO for Your 401(k) Administration

Are you at the brink of outsourcing your 401(k) administration? Congratulations! It is certainly the right decision, especially if you are a small business. The next step is finding the right Professional Employment Organization (PEO) to fit your small business’ needs. There a variety of organizations out there with different plan options available that it can be overwhelming to choose just one. This blog will provide tips for selecting and monitoring a PEO to make sure they continue to meet your needs along the way.

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2 Steps for Setting Up a 401(k) Plan for Your Small Business

2 Steps for Setting Up a 401(k) Plan for Your Small Business

They’re too expensive to operate... There aren’t enough options to fit our needs... They don’t benefit small businesses.

The 401(k) has a bad reputation especially amongst small business employers, and we can’t blame them. There are multitudes of 401(k) plans available to employers across the nation, but not all sizes fit all. What suits a global corporation may not suit a company of 20 employees, so much so that many employers found in this situation often choose to not provide a 401(k) plan altogether.

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DHR eBook: A Beginner's Guide to Starting a Small Business 401(k) Plan

DHR eBook: A Beginner's Guide to Starting a Small Business 401(k) Plan

The 401(k) plan has a bad reputation amongst small business employers, and we can’t blame them. Some options are too expensive to set up and some aren’t flexible to fit a small business’ needs. Many employers realize there’s a lot of administrative work involved to get one off the ground and to maintain—reasons enough to scare small business employers away.

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What Small Businesses Need to Know About 401(k) Plans

What Small Businesses Need to Know About 401(k) Plans

In 2015, the Small Business Administrator reported small businesses as accounting for two out of three net new private-sector jobs, employing more than half of America’s workforce. These businesses are a major part of the nation’s economic engine. What do they need to continue thriving in a market plagued with highs and lows?

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What is a 401(k)?

What is a 401(k)?

In this recurring DHR blog feature, Christine La fore (Associate General Counsel for DHR) brings clarity and definition to sometimes confusing terms that hold importance for employers and their HR policies. Christine has reviewed and analyzed countless legal documents and rulings and uses her expertise to help employers properly understand these items to apply policy and promote compliance.

A 401(k)…

  • Is a retirement savings plan sponsored by an employer
  • Is a tax-qualified, defined contribution pension account defined in subsection 401(k) of the Internal Revenue Code
  • Allows workers to save and invest a piece of their paycheck before taxes are taken out
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