|Eligible Employer:||Varies by plan. Generally any employer with fewer than 1,000 employees.|
|Employer Contributions:||Available feature|
|Salary Deferrals Allowed||
Salary deferrals up to $18,000 in tax years 2015 and 2016 ($24,000 if age 50 or older).
|Employer Fees:||Small Business 401(k) fees vary by plan|
|Annual IRS Form 5500 and special IRS testing to ensure plan doesn't favor highly compensated employees|
|Investment Options:||Broad range of T. Rowe Price and non-T. Rowe Price investments|
Small Business 401(k) Plan Benefits
- This online resource puts a wide range of information and tools at plan sponsors' fingertips and helps to save time and money by performing many administrative functions.
- Enrollment materials, employee meetings, telephone support, and 24-hour automated telephone access are all available to help educate and inform employees about the benefits of retirement saving and investing.
- The participant website provides 24/7 access to account information and plan features, as well as provides the ability to conduct transactions anytime.
- Plan sponsors may select from over 90 no-load mutual funds and common trusts and over 5,400 nonproprietary funds in addition to a self-directed brokerage option.1
- Defined contribution plans
- Defined benefit plans
- Nonqualified plans
- Combination plans
- 457(b) plans
- 403(b) plans