ShareBuilder 401k this week announced offers designed to help businesses establish their first 401(k) plan and meet the Oct. 1 safe harbor deadline.
The firm said it is offering a $250 discount in the setup fee for businesses establishing a new 401(k) plan from Aug. 18 to Sept. 2; and a $100 discount to the setup fee for new plans from Sep. 3 to Sept. 12. Companies will have until Sept. 17 to purchase a safe harbor at ShareBuilder to still meet the government deadline.
To establish a safe harbor 401(k) plan for the current year, it must be set up by Oct. 1 of the current year. Most providers recommend initiating the process well in advance to ensure the company’s plan is fully operational on time and not delayed until the following January.
“Too many small businesses are missing out, unaware of just how affordable and accessible a robust 401(k) plan can be,” stated Stuart Robertson, CEO of ShareBuilder 401k. “Our unwavering commitment is to empower businesses of every size to effortlessly as possible provide themselves and their employees with a vital retirement plan. By offering these limited-time savings on setup, we are actively dismantling another perceived cost barrier and urging more employers to seize the benefits of a 401(k) plan.”
