A 401K is a type of savings account that enables employers to help their employees save for retirement while reducing taxable income. Employees can choose to deposit part of their earnings into their 401K account and defer the income tax payable until the money is later withdrawn in retirement. Earnings on money in a 401K are never taxed before funds are withdrawn. Employers often match a portion of their employees’ contributions.
We help small business owners create and manage a 401K program for their employees. This includes creating a section of portfolios of different risk tolerances and objectives from which the employees may choose.