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Introduction to 401(k)s for small businesses

Business Management Daily

Setting up a 401(k) for employees can be a daunting task for small business owners. 401(k)s allow employees to set aside a percentage of their salary to plan for their future retirement. 401(k)s allow employees to set aside a percentage of their salary to plan for their future retirement. What is a 401(k)?

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Study Pegs Group Benefits Return on Investment at 47%

InterWest Insurance Services

The takeaway While the study focused on health coverage, and to some part wellness programs, employers that go beyond just health insurance by creating and offering a balanced benefit program, have the greatest ROI. Before the COVID-19 pandemic, most businesses considered health benefits little more than a cost to be managed.

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Importance of Employee Benefit Package And Why it Matters

HR Digest

Matching 401(k) contributions 2. Health insurance 2. Dental or vision insurance 4. Considering health care and life insurance 5. Retiree health insurance 6. Disability insurance Looking at these results, it’s clear that financial security is a major driver of employee benefit choices.

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16+ types of employee benefits you should consider

Genesis HR Solutions

There are four major types of employee benefits many employers offer: medical insurance, life insurance, disability insurance, and retirement plans. Medical Insurance. Vision Insurance. Hospital insurance is health insurance for hospital costs. Life Insurance. Disability.

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How to evaluate the compensation plan?

HR Digest

Retirement benefits – include 401(k)/403(b), pension plans, etc. Disability insurance. Life insurance. On the other hand, Job B offers a salary, 401(k), employee assistance program , and learning and development opportunities. Employee assistance program. Relocation expenses.

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Two-thirds of Small Firms Are Boosting Their Benefits Packages: Poll

InterWest Insurance Services

401(k)s or other retirement plans. Dental insurance. Life insurance. Vision care. Accident insurance. Long-term and short-term disability insurance. Accidental death and dismemberment insurance. Among these must-have benefits: Prescription drug coverage. Defined benefit pension plans.

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Flexible Benefit Plans Give Employees More Options

InterWest Insurance Services

Options can include: Health insurance, Voluntary benefits premiums (like vision and dental), Life insurance, 401(k), and. The worker can choose from a menu of options into which they want to funnel the funds, and how they want those funds allocated. Flexible spending account.