It can be difficult to think about planning for the future when there's so much going on in the present. But old age is an issue that no person can avoid. In a survey of small business owners, only about 1 in 4 businesses could correctly answer these questions. Quick Tips Know the lingo . With the former, you are required to pay for all employees who are qualified to participate in the plan, regardless of whether or not they participate.
Communication pays off .
Simple alternative . Although employers set up and administer the plan, it's the employees who are responsible for determining how much they want to contribute and choosing how these funds are invested. When investigating your options, you should answer a few questions. You will also need to think about the plan structure. To encourage employees to stay with the firm, you may want to implement eligibility requirement and vesting schedule for matching contributions.