Vince Morris Featured in U.S. News and World Report

In 2019, the SECURE Act passed, creating additional opportunities for small employers to participate in pooled employer plans making it less costly to provide workers with a retirement plan.

Still, selecting a quality plan requires research and an understanding of each plan's intricacies that is best suited for both your company and people.

OneDigital’s President of Retirement + Wealth talks with U.S. News and World Report about the best way businesses can approach this selection process and plan elements to consider in the recently published article, “How to Pick the Best Small Business 401(k) Plan Provider.” He also emphasizes the benefit of incorporating features that can help employees maximize the effectiveness of the plan, for example, automatically adjusting the investment based on employee age. By relying on a financial professional to assess and implement the plan, employers can ensure they’re offering the plan best aligned for their employees.

These changes increase efficiency and give employers peace of mind that they are supporting their employees appropriately. Consider using a major recordkeeper. Because of their size, these companies have great technology, scale and critical cyber-security precautions in place. Making sure the selected 401(k) provider is integrated with your payroll system is important and will help with administration.
 
— Vince Morris, President of Retirement and Wealth, OneDigital

Read the full article here.

Learn more about how businesses are adapting to changing financial pressures and check out the recent blog post: The Convergence of Health and Wealth: Holistic Support for Your Workforce.