December 3, 2020
3 Cost Effective Ways to Expand 401(k) Participation
Offering a retirement plan shows your employees that you are committed to helping them save for their future. A matching formula is a great way to give a little bit more to your employees and increase contributions.
There are many matching formulas that can boost contributions and won’t break your bank or budget. Here are three to consider:
• Safe Harbor
• Graded Vesting
• Cliff Vesting
In this guide, you will gain insights about these three formulas, their advantages and eligibility requirements.