Deciding to offer a retirement plan for your small business is a big step—but finding the right fit for your needs can feel like a daunting task. There are many viable options to choose from, but if you’re looking for an easy-to-administer plan that saves you time and money and limits your fiduciary responsibility, The Payroll Factory + a payroll integrated 401(k) plan is a great place to start.
Benefits of 401(k)
There are many reasons to consider offering a 401(k) plan for your small business and many benefits of doing so—regardless of company size. Whether you operate an owner-only business or have hundreds of employees, 401(k) plans offer valuable benefits to business owners:
- Tax liability is reduced for business owners and employees who contribute to their 401(k). Plan matches are tax-deductible for the employer and tax-deferred for employees.
- A tax credit may also be available for small employers establishing a plan for the first time.
Employee retention and attraction
- A 401(k) plan can help attract and retain talented employees and is considered a “must-have benefit” by nearly 90% of American workers*.
Easy for you and affordable for your employees
Get the benefits of a large-scale retirement plan with none of the hassle!
Human Interest offers a simplified, automated and tailored 401(k) that delivers on the needs of small and medium-sized businesses.
Easy setup and administration
Say goodbye to most of the manual work of setting up and managing a 401(k). We handle compliance, recordkeeping and updating employee information every payroll cycle.
Traditional providers have built their business on administering large 401(k) plans. They have not built the technology and automation required to efficiently run small plans. Human Interest’s fully automated 401(k) plans can be set up online without ongoing administration and less the cost of traditional 401(k)s.
The CoPilot Solution
The fully bundled CoPilot Prime retirement solution is designed to save business owners time and allow them to focus on running their business—not their retirement plan. CoPilot Prime includes:
Simplified Plan Administration
CoPilot Prime allows business owners to streamline benefit and payroll processes through 360° payroll integration with The Payroll Factory, saving employers time and money, reducing data entry errors, and minimizing administrative tasks.
Plus, CoPilot Prime minimizes fiduciary responsibilities for 401(k) plan sponsors and includes a dedicated installation representative to assist employers beginning with the setup process all the way through the first payroll. With upfront pricing and flexible options, CoPilot Prime allows small business owners to create a retirement solution that fits their needs.
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