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Let's move onto the guest on -- next Jimmie Chad parks this CEO of the online 401K.
High tech and our thanks for man U because a lot of small businesses owners should.
Kind of consider offering a 401K considering that workers say it.
Aside from health care the number two attractive thing for them why they would want to work for a company is having a 401K on.
That's right yet it is the number two requested benefit behind health care.
A -- and done with good reason you know most people are used to having a 401K.
Have worked -- a bigger company or other company that had -- Sony go to new employer that's one of the things that you expect.
-- small businesses typically -- -- -- one case unfortunately no.
The white you know there's a lot of perception that there's that is very expensive and difficult to manage.
That now it's not on our website for example you can spend maybe thirty minutes a month just managing the plane with the skins here reporting information.
Senator website and you move -- anyway so your site.
There online 401K dot com is for small business owners who want to offer the pilots -- or when the employees it's actually both.
So -- so we were for both we we established the planned on behalf of the company and we communicate with the employees to let them know.
That the company does offer the benefit and -- -- about 5000 pompous since almost 6000 at this point and I yeah and that we record keeper over one point one billion.
In retirement assets so we've been able to help people save over a billion dollars right and it cost to offer -- -- -- -- the small business 41 -- are starting in 95 dollars a month to the company per employee -- not per employee -- we get that question a -- I thought -- I could sell -- to the -- -- get -- dollars -- employee but it's not that.
-- 95 dollars to them company period in the have a small per employee charged for those who participate and then -- what is the small four dollars a month.
And it's not asset base which is a big differentiator because.
What that means is that for every dollar that you put in as much as Parcells going to work for your retirement it's not paying us Koch is there matched by the -- going to -- that that's one of the other misperception so that's a good question so.
-- companies think that they must match if they're gonna offer of -- or one -- and the cases that now it's it's you get to decide every year whether or not you want to do a match now.
The benefits of doing and after that you would -- owners of the business would be able to save the maximum almost no strings attached.
And so you know when you explain that shorter so this year you can save 171500.
Dollars as an employee.
If you -- the business owner get an outrage even as simple as possible.
They put restrictions on how much you can say proportionally to your employees.
And -- -- do something called a safe harbor match which means that if you put that match and you're guaranteed that you can save the -- of -- well.
-- -- Still what are some things that small business owners should be shopping for trying to offer for a one case today again please who want them -- You know there's been a big shift over the last maybe ten years you know we went from.
No information to the Internet to having you know brokerage accounts available every which way.
And investments available all across the board.
And so really in today's environment what you're looking for a plan is something that puts it -- together that's easy to use that the investments are low cost but professionally managed.
Transparent transparencies so that you know exactly which -- paying -- and you know I always encourage people don't be afraid to ask the point.
Blank question which is you know how are you getting paid because it's because someone can answer that question for you directly -- and that's a problem right there by a -- So web based transparent flat fees -- house.
And I'd say you know having good tools and calculators available to the employees because unfortunately one of the downsides of 41 case in the past has been.
That we've expected the -- person the average worker to become an investment expert also.
So you're not an Internet well yes your and I can -- -- could go perform my own heart surgery -- -- -- -- -- -- -- -- about how to do it.
So we will look to the companies that are providing professional advice and tools and calculators and really that that sort of well around his support that employees need.
And and that investment options how varied are the options here that offers there there's quite but why are set offers sound anywhere from mutual funds to exchange traded funds.
Self Turkey brokerage accounts so that you buy your own stocks and bonds if that's something that you want -- so we've we've we'd like to call ourselves.
Investment agnostic so we're investment neutral you -- have what everyone on our platform.
But out there in the marketplace there are a lot of those options as well and so we encourage people to look for is the expense ratios and sure that you're paying.
As low a fund -- as possible for that particular -- costs.
What is -- move my fox investment planning -- news from -- for a one case.
And leave here it's all that money.
And it go to small business.
Would you take my 401K.
-- -- what'd you have for -- caves are portable.
That's one of the advantages of them so it's your money you know and if the company -- put money in the most likely it's all your money but if not the people of Iraq.
Tested -- -- of the -- balance has called -- And so when you leave.
Fox got for bit.
But but if you go to work for my small company.
Then you have the ability to roll over your 401K into your new company's point mean you would do that if you feel like that there's better options -- or if you want to just consolidate and make sure everything's in one place.
You also have the option to rolled into an IRA and keep it tax deferred but put it at your favorite institution and you can start deferring again.
Into the new form a case -- pretty flexible terms of how you and I immediately you offer Roth IRAs and traditional IRA that relative -- and obviously but that's relatively new for us yes so we actually launched a new solution called starter Kate.
And -- case.
Starter -- is a four OK on training wheels it is on the payroll deduction -- -- so it's it's another entry level retirement savings plan for small businesses to offer.
Instead of a full blown 41 K so that's a nice thing and then we also have always says -- K which is designed for individuals to do just what you -- the message.
To small business as it is.
You know bottom line.
I don't like paying taxes more than I need to -- and so the government is so serious about wanting to pay people to save that's how we like to position at that you know those dollars.
Are going to the IRS regardless this is really one of the only opportunities you have to -- direct them and put them into your retirement savings account.
And so that's really the message like -- -- get paid to save because the -- once you have to do that.
Thank you so much Chad -- CEO of the -- 401K.
-- put -- let's say on the screen thank you for coming --
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