Are you considering the addition of a retirement plan for your employees? Small businesses who want to be competitive in a difficult hiring market find that a retirement plan — most often an employer-sponsored 401(k) — attracts new and higher quality talent. And it helps you keep employees once you’ve hired them.
But there may be a big gap between wanting to create a 401(k) plan and actually setting one up. To accomplish this task, you’ll first need to answer a few questions. The following questions will guide you in the selection of a plan and its implementation.