If you’re like most business owners, you didn’t go to school to learn about the legal responsibilities you take on when you decided to offer a 401(k) or profit sharing plan.
The problem for business owners, though, is that retirement plans are almost a requirement if you want to attract and keep great employees.
So, what’s the solution? A professional employer organization (PEO).
How PEOs Help with 401(k) & Profit Sharing Plans
1. Cut Costs and Reduce Stress
Our management fees are extremely low, which means you pay less. Plus, your employees benefit because smaller fees means they can contribute more to their retirement savings.
2. Save Time
Stop wasting time trying to make sense of your legal responsibilities. When you work with GMS, we take care of the details for you. Plus, we centralize plan administration so you don’t waste time tracking down multiple vendors.
If you have a question, concern, or update, just give your account representative a call.
3. Offer Benefits Your Employees Want the Most
We can help you set up fully customizable plans that make your company more attractive to quality employees. With GMS, you can easily establish:
- 401(k) eligibility requirements
- Tax-deductible matching
- Profit sharing contributions
Offering retirement plans is important to getting quality employees, but is a benefit with a lot of complexity and risk. Don’t go it alone.
Stop losing sleep because you're worried your 401(k) plan isn't above board. Contact GMS today at 330-659-0100 or read our FAQ page to learn more about how we can help.