Many states require employers to provide retirement savings options. Offering a 401(k) plan, like those from Human Interest, can help construction businesses meet these requirements while avoiding penalties.
State-mandated programs typically require employers to enroll workers in retirement savings plans through state-sponsored options or employer-sponsored alternatives like a Human Interest 401(k). These plans offer greater flexibility and robust savings opportunities tailored to employees' needs.
Watch our webinar with Human Interest on “Simplifying 401(k) Plans for Your Construction Team”.
Most state-mandated plans use Roth IRAs with automatic employee enrollment. Workers contribute a set percentage of wages via payroll deductions unless they opt-out. Small businesses, startups, or employers with existing qualified plans may qualify for exemptions.
Non-compliance can result in fines per employee and potential fees associated with state-sponsored plans. Management, recordkeeping, and investment fees can range from 0.5% to 1% annually, impacting employers and employees. Transitioning to a 401(k) offers a cost-effective, compliant alternative.
Many states require employers to provide retirement savings options. Offering a 401(k) plan, like those from Human Interest, can help construction businesses meet these requirements while avoiding penalties.
State-mandated programs typically require employers to enroll workers in retirement savings plans through state-sponsored options or employer-sponsored alternatives like a Human Interest 401(k). These plans offer greater flexibility and robust savings opportunities tailored to employees' needs.
Watch our webinar with Human Interest on “Simplifying 401(k) Plans for Your Construction Team”.
Most state-mandated plans use Roth IRAs with automatic employee enrollment. Workers contribute a set percentage of wages via payroll deductions unless they opt-out. Small businesses, startups, or employers with existing qualified plans may qualify for exemptions.
Non-compliance can result in fines per employee and potential fees associated with state-sponsored plans. Management, recordkeeping, and investment fees can range from 0.5% to 1% annually, impacting employers and employees. Transitioning to a 401(k) offers a cost-effective, compliant alternative.
Many states require employers to provide retirement savings options. Offering a 401(k) plan, like those from Human Interest, can help construction businesses meet these requirements while avoiding penalties.
State-mandated programs typically require employers to enroll workers in retirement savings plans through state-sponsored options or employer-sponsored alternatives like a Human Interest 401(k). These plans offer greater flexibility and robust savings opportunities tailored to employees' needs.
Watch our webinar with Human Interest on “Simplifying 401(k) Plans for Your Construction Team”.
Most state-mandated plans use Roth IRAs with automatic employee enrollment. Workers contribute a set percentage of wages via payroll deductions unless they opt-out. Small businesses, startups, or employers with existing qualified plans may qualify for exemptions.
Non-compliance can result in fines per employee and potential fees associated with state-sponsored plans. Management, recordkeeping, and investment fees can range from 0.5% to 1% annually, impacting employers and employees. Transitioning to a 401(k) offers a cost-effective, compliant alternative.
Many states require employers to provide retirement savings options. Offering a 401(k) plan, like those from Human Interest, can help construction businesses meet these requirements while avoiding penalties.
State-mandated programs typically require employers to enroll workers in retirement savings plans through state-sponsored options or employer-sponsored alternatives like a Human Interest 401(k). These plans offer greater flexibility and robust savings opportunities tailored to employees' needs.
Watch our webinar with Human Interest on “Simplifying 401(k) Plans for Your Construction Team”.
Most state-mandated plans use Roth IRAs with automatic employee enrollment. Workers contribute a set percentage of wages via payroll deductions unless they opt-out. Small businesses, startups, or employers with existing qualified plans may qualify for exemptions.
Non-compliance can result in fines per employee and potential fees associated with state-sponsored plans. Management, recordkeeping, and investment fees can range from 0.5% to 1% annually, impacting employers and employees. Transitioning to a 401(k) offers a cost-effective, compliant alternative.