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Why Offer a 401(k) Plan To Your Employees?

May 28, 2014 | posted by Ren Cicalese

To attract and keep qualified employees.

Offering a 401(k) plan is an important added benefit for your employees in addition to their compensation because it builds the perceived value both prospective and current employees have come to expect in an organization. Participation in a 401(k) plan also helps retain employees who appreciate the security of building a nest egg for retirement.

Because it’s cost effective for the employer.
Even if you’re on a tight or limited budget, a 401(k) plan is an affordable fringe benefit you can offer your employees that puts you on the receiving end of tax benefits as well.

To offer employees the power to invest without much risk to the employer.
Once you set up your 401(k) defined contribution plan, the rest is up to your individual employees. They can choose their own investments and be proactive in building their financial security. A financial advisor can assist employees with recommendations and provide education at annual meetings to help them feel confident and secure with their fund choices.

You can customize your plan for specific employees so that committed employees are rewarded.
Your 401(k) plan can be customized and promoted as a loyalty incentive. For instance, you may require that employees work full-time for six months or up to one year before they are eligible to be rewarded with participation in the plan.

Secure your own retirement.
Chances are that if your company is not offering a 401(k) plan for your employees, you’re not yet contributing to a 401(k) plan yourself. Use this opportunity to get started on building your retirement nest egg and working toward securing your own financial future.

Minimal administrative burden.
As a busy small business owner, you certainly don’t want the time you free up outsourcing payroll swallowed up by administering your company’s 401(k) plan. Abacus Payroll, Inc. works with Alloy Silverstein Financial Services, Inc. to set up a plan that seamlessly interfaces with your payroll and do the legwork to keep it running smoothly so there’s little administrative work you’ll be responsible for on an ongoing basis.

Administered by a vendor you trust.
If you already trust Abacus Payroll to handle your payroll, it makes sense to allow Alloy Silverstein Financial Services, Inc., a part of the Alloy Silverstein Group, to set up an appropriate retirement plan for your business.

We can work with a CPA to conduct an analysis of your company that will quickly help you decide if instituting a plan is right for your business. As a trusted vendor, once you elect to start a plan, we’ll help you decide the plan type, guide you in explaining it to staff, and conduct annual meetings to announce updates and changes.

The Alloy Silverstein Group even has the ability to run a cost-benefit analysis to ensure you’re maximizing your plan’s benefits, including any tax implications. We will do the legwork to keep you in compliance with regulatory standards.

Perhaps most important of all, we’ll help you choose a plan that is based on your goals. Along with a Third-Party Administrator, we can identify what you need to do to achieve those goals and help you get what you want out of your plan, whether it is a deferred contribution plan, a deferred benefit plan, or a combination of the two.

Turn to an expert you trust to brighten the financial future for yourself and your employees.

Contact Ren Cicalese on 856 667 6225 or by Email if you would like more information or a quote for setting up a 401(k) plan for your business.


Securities offered through 1st Global Capital Corp. Member FINRA, SIPC
Investment advisory services offered through 1st Global Advisors, Inc.
Insurance services offered through 1st Global Advisors, Inc.

We currently have individuals licensed to offer securities in the states of Arizona, California, Colorado, Conneticut, Delaware, Florida, Georgia, Indiana, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Texas, and Virginia. This is not an offer to sell or provide investment advisory services in any other state or jurisdiction.


About the Author: Ren Cicalese

Ren is the managing shareholder of Abacus Payroll and the Alloy Silverstein Group. He is only one of 5,000 CPA’s in the US who is a certified Personal Financial Specialist (PFS). He has extensive accounting and financial management experience and works with law firms, real estate developers, computer consulting businesses, healthcare professionals, manufacturing companies, retail and wholesale organizations and professional athletes. Contact Ren on (856) 667-6225 or Email if you’d like more information about outsourcing your payroll.