Traditional 401(k)

Available from ShareBuilder 401k

Product Details

Traditional 401(k) (Click to enlarge image) This plan design gives you more options to tailor for your needs. Top things to know about Traditional plans:

To match or not to match–employers decide whether to provide a match or not and offers more options on how to structure the match.

Allows employers to establish vesting and/or eligibility rules to retain and reward loyal associates.

Tip: Automatic enrollment is typically a good idea with any plan design but is often more essential with traditional plans to help the plan better meet IRS testing requirements.

Traditional plans are a smart option for businesses who have highly seasonal cash flows, experience relatively high employee turnover, or need the flexibility to leverage a different match amount than a Safe Harbor would require. The ability to add in multi-year vesting schedules also makes these plans a valuable tool for employee retention and to help reduce costly turnover. In addition, eligibility rules can simplify administration and plan costs for businesses that have seasonal work forces.

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