Delivered January 27, 2020. Contributor: ChristineD
Determine the available options to grant 401K to the employees, the cost of this benefit to the employer per head, and the best approach for small businesses. The information will be used for the budget planning of a small business.
Small Businesses Retirement Plan Options
For the retirement plan of the employees of an S Corp-type of small business, the typical cost for employers will range from $2,000 to $4,000 annually in administrative and insurance expenses.
For those plans that need an S Corp employer to have a contribution, the percentage is usually 3-4% per employee.