Small businesses understand the need to offer 401(k) plans to help recruit and retain employees in a tight labor market, and pending SECURE Act 2.0 legislation would give further incentives. However, the administrative burden can be daunting when companies also are dealing with high inflation, supply chain snags and other challenges.
Equitable, a leading financial services organization, recently launched Retirement Gateway for Small Business, which aims to simplify onboarding and administration for small businesses, including those with startup plans and ones with account values up to $500,000.
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