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Give yourself a retirement savings plan that lets you build for the future while helping your employees take the right financial steps. Optima Payroll is here to help with 401(k) solutions built for you. A competitively priced, quality 401(k) plan can also help you retain employees and improve satisfaction. Set up a 401(k) with Optima Payroll today.
Optima Payroll’s 401(k) options offer:
A traditional 401(k) is an employer-sponsored plan that gives employees a choice of investment options. Employee contributions to a 401(k) plan and any earnings from the investments are tax-deferred. You pay the taxes on contributions and earnings when the savings are withdrawn.
A Safe Harbor 401(k) plan is a type of 401(k) with an employer match that allows you to avoid most annual compliance tests. If a 401(k) includes a Safe Harbor provision, the employer makes annual contributions on behalf of employees, and those contributions are vested immediately.
Solo(k) gives owner-only and family-only businesses the ability to make the maximum allowable contributions to a retirement plan while providing access to accumulated balances through a loan feature. Business owners and their spouses receive the same advantages of a Traditional 401(k) plan, including pre-tax and Roth contributions, as well as higher annual contribution limits than allowed in a SEP-IRA or SIMPLE plan.