Once your business has a team of employees, it’s best to set up an employer-sponsored retirement plan, which can help improve employee retention rates. Some states even require certain types of employers to offer 401(k) plans. To find the best employee retirement benefits providers for your business, look for vendors that offer plan design, administration, recordkeeping, auto-enrollment and easy integration with company payroll.
Why You Should Trust Us
Business News Daily’s team of analysts is committed to independently reviewing business services. The in-depth review process begins with market research and vendor demonstrations before moving on to hands-on testing and service comparisons. To ensure each evaluation is free of errors and bias, a top editor verifies the assessments before publication.
When it comes to the best employee retirement plans, we sought providers that offered a variety of plan types (401(k), Roth, IRA, etc.), low investment fees and transparent pricing. We considered the extent to which plans could be customized by both the employer and employee, and tested plan management self-service portals to get a sense of their user-friendliness. We also looked into whether the vendor’s plan administration system integrated with leading HR and payroll software. Learn more about our methodology.