Access to retirement plans is one of the biggest hurdles in the U.S. workplace, and those with access to retirement saving options are 15 times more likely to utilize them. When the savings are automatic, people are five times more likely to participate in a retirement plan. While most workers (75%) save through employer-sponsored retirement plans, more than half (56%) do not know the amount of money needed to retire.
The Slavic401k Retirement Savings Plan will accept 401(k) plan assets from most individual plans. Participants gain access to a sophisticated technology suite that has a portal that allows users to:
Safe Harbor plans allow company owners and highly compensated employees to defer the maximum. Slavic401k’s Safe Harbor provision provides you with two employer contribution options.
There are four types of profit-sharing contribution formulas used by employers:
1National Institute on Retirement Security, “Americans’ Views of Retirement,” 2021.