When you are a small business owner, the idea of a 401K can be quite scary. A small business 401K does not have to be as complicated as it sounds though if you have the resources at your disposal to help you understand everything that goes into setting this up.
There are some great 401K resources out there starting with the IRS website that is dedicated to retirement type information. This is known as the Tax Information for Retirement Plans Community section of the IRS site. They have filing forms, tax return information, as well as more.
There are also a lot of Department of Labor resources available online to help you understand all of the various retirement plan fees that exist out there. You can get information on retirement plans, education campaigns, and much more.
By reaching out to the Department of Labor, you can also take part in an ERISA Fiduciary Advisor tutorial. This will give you information and answers on tons of different questions. You can learn about ERISA, how it impacts a fiduciary, and so on. This can teach you further on what is needed to meet your retirement plan responsibilities.
A 401K does not have to be a scary thing, and a small business 401(k) can actually be quite simple if you have the right resources. By utilizing resources such as www.employeefiduciary.com you can get set up with a low cost 401(k). Employee Fiduciary resources can get you set up with the 401K you need.