Online 401(k) Plan Checklist

Advantages for you:

• A 401(k) plan can help attract and retain quality employees
  
  
• It's easy to use.
  
  
• The plan is built and paid for completely online. Reduced paper.
  
  
• It's a low cost alternative to a full-service 401(k).
  
  
• Contributions can be deducted from corporate taxes as a business expense.
  
  
• User-friendly Internet services are available 24/7.
  
  

Advantages for employees:

• Taxable income is reduced when employee pre-tax contributions are made.
  
  
• Saving through payroll deduction is easy and convenient
  
  
• Amount saved is flexible and can be changed as needs/income changes
  
  
• Taxation of earnings on amount saved is deferred.
  
  
• Access to account information, educational material, and transactions is available via the Internet 24/7.

An online 401(k) may be a good fit for your company if the following statements match your retirement plan objectives and capabilities:

• I want employees to have the ability to defer income on a pre-tax basis.
  
  
• I can choose from streamlined plan design options.
  
  
• I pay the expenses for the plan.
  
  
• The plan is purchased and operated directly through the Internet. A local sales or service representative is not necessary.
  
  
• An ongoing administrative contact is not necessary. Support through an 800 phone number is fine
  
  
• I'm provided with the necessary tools to manage the plan.