SIMPLE IRA vs. 401(k): Understanding the Key Differences
When considering starting a retirement plan, businesses have several options, with the SIMPLE IRA and 401(k) being two of the most popular choices. Both plans offer tax advantages and help owners and employees save for retirement, but they differ in terms of contribution limits, administrative requirements, and flexibility.
SIMPLE IRA to 401(k) Conversions Can Be Done Anytime
Many business owners hoping to provide a retirement savings benefit for their employees begin that journey by offering a SIMPLE IRA, because they are easy to set up and maintain. But as time passes, companies often outgrow their SIMPLE IRA and seek to replace it with something more robust, such as a 401(k) plan.
Pontera and 401GO Partner to Enable Personalized 401(k) Management
PonteraTM, the fintech company helping retirement savers receive professional 401(k) account management from their trusted financial advisor, has announced a strategic partnership with 401GO, a fast-growing retirement plan provider that uses advanced technology to better serve plan sponsors, their participants and financial advisors.
401GO’s Tech is the Disruptive Force Behind a New Retirement Paradigm
Most technological advances are incremental, with new products offering small improvements over those that preceded them. Rarely does a new entrant go to market with a solution that represents an order of magnitude improvement over the status quo. 401GO happens to be an exception.
401(k) Plans are a Startup’s Secret Weapon
When startup founders learn that I work for 401GO, they often comment that they look forward to the day they can offer a 401(k) plan. And that’s my cue to start preaching.
HCM Companies Should Partner with 401(k) Providers
In my experience, HCM companies want to be a complete solution for their clients, and offer them a full range of the services they need. Bundling various products together and selling them under one brand creates value that is enticing to potential clients.