Recommended Plan
Starter 401(k)
A Starter 401(k) is a simplified retirement savings plan for small businesses that may not offer a traditional 401(k). It allows employees to save through payroll deductions with lower costs and simpler compliance. Unlike standard 401(k) plans, employer contributions aren't required, making it budget-friendly. While contribution limits are lower, it still offers tax advantages like pre-tax savings and tax-deferred growth, helping employees build retirement funds.
$39/ month
+ $6 per active employee / mnth
Annual employee contribution limit: $6,000
Included in this plan:
Auto enroll amount: 5%
Auto escalation: 1% increments up to 10%
Employer contribution: None
Profit Sharing: Not allowed
Loans: Not allowed
See my other options
Recommended Plan
Safe Harbor 401(k) Basic
A Safe Harbor 401(k) plan is a type of retirement plan that makes it easier for small businesses to offer a 401(k) to their employees. It automatically satisfies certain IRS rules, so you don't have to worry about passing complex annual testing. Plus, offering a Safe Harbor plan with matching or non-elective contributions can help you attract and retain great talent, showing employees you're invested in their future. It's a straightforward way to provide a valuable benefit while keeping compliance simple.
$125 / month+
$8 per active employee/mth
Annual employee
contribution limit:
$23,500
contribution limit:
$23,500
Included in this plan:
Auto enrollment amount: 6%
Auto escalation: 1% up to 10%
Employer contribution: Safe Harbor Match 100% to 4%
Vesting schedule: None
Profit Sharing: No
Loans: No