Q. I own a small business, which 401K provider is the best for small businesses?
A. According to an estimate by the Government Accountability Office, only 14% of businesses with less than 100 employees sponsor a retirement plan. But the reality is, there are many 401k options available for small business owners.
Below is an incomplete list of options:
a. Insurance Companies
Their advantage is its vast sales force, they could approach the busy small business owners and explain the details of 401(k) well.
b. Established Providers
Such as Employee Fiduciary LLC and Vanguard which have entered into the small business 401(k) service space.
c. Start Ups
Such as ForUsAll, Dream Forward Financial, SaveDay, Captain401. They aim to bring robo-advisor style 401k plans to the small business space.
A. According to an estimate by the Government Accountability Office, only 14% of businesses with less than 100 employees sponsor a retirement plan. But the reality is, there are many 401k options available for small business owners.
Below is an incomplete list of options:
a. Insurance Companies
Their advantage is its vast sales force, they could approach the busy small business owners and explain the details of 401(k) well.
b. Established Providers
Such as Employee Fiduciary LLC and Vanguard which have entered into the small business 401(k) service space.
c. Start Ups
Such as ForUsAll, Dream Forward Financial, SaveDay, Captain401. They aim to bring robo-advisor style 401k plans to the small business space.
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