You may not have heard of money purchase pension plans, but they are a powerful retirement savings offering. MPPPs are qualified retirement savings plans like 401(k)s that you contribute to each year for your employees, the plan participants. They help your employees save for retirement. You may decide to offer an MPPP in conjunction with a profit-sharing or 401(k) plan.
Vestwell's Retirement Trends Report, which is based on a survey of over 1,300 employees, 500 advisers and 250 small-business owners in the United States, is insightful. The findings relay the idea that integrating an adviser's services with your benefits package can set your company apart from competitors.
401(k) plans not only contain significant financial assets but also retain participants' personal information. This can make the plan vulnerable to cybercriminals.