401(K) Retirement Plans are primarily funded from dollars paid as salary. Employers benefit because a 401(k) plan lets you deduct company contributions from taxes as a business expense and helps recruit and keep quality employees.

Employees benefit from a 401(k) plan, as it allows them to save for the future through easy payroll deductions. Employees have flexibility in the amount they’d like to contribute from each paycheck and also have a reduction in their taxable income. Lastly, they are able to defer taxes on the amount saved and earned until they receive actual benefits from the plan.

The Freeman Agency will help find the best 401(k) plan for your company and your employees.