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.
>>3 Cost Effective Ways to Expand 401(k) Participation>>
This information was developed as a general guide to educate plan sponsors and is not intended as authoritative guidance or tax/legal advice. Each plan has unique requirements, and you should consult your attorney or tax advisor for guidance on your specific situation.
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