Setting Up a 401(K) plan for your Las Vegas business is not mandatory. However, it may soon be approved by the IRS with the premise that employers provide congruous notice to employees with an option to “opt-out” of mandatory pre-tax contributions.
While some employers question the importance of offering a retirement plan for their workers, a recent study has shown that 94% of the small business owners are realizing the importance of offering a 401(K) plan in recruiting and retaining employees.
Furthermore, attracting quality employees are likely to consider working for a company that cares to invest in their workers by offering retirement benefits the longer that they stay with the company.
Related article: What Is A 401(k)?