4 Compelling Reasons Your Business Needs a 401(k) in 2025 – Insights with Marc Fowler

Casual Friday: Financial Insights

This week Brian and Ryan sit down with Marc Fowler, 401(k) expert and representative of Human Interest, to discuss why 2025 is a pivotal year for small businesses to start offering a 401(k) plan. If you’re a business owner who hasn’t yet taken the plunge, this episode is packed with actionable insights on why now is the time.

Key Takeaways

1. Tax Incentives Are Better Than Ever
   • Marc explains how recent legislation, such as the SECURE Act 2.0, offers significant tax credits for small businesses starting a retirement plan. These credits can cover a substantial portion of plan setup costs.
2. Boost Employee Retention
   • A robust benefits package, including a 401(k), can help attract and retain top talent in an increasingly competitive job market. Marc shares data on how retirement benefits impact employee satisfaction.
3. Retirement Savings for Business Owners
   • A 401(k) doesn’t just benefit employees—it’s also a powerful tool for business owners to save for their own retirement in a tax-advantaged way.
4. Plan Costs Are Lower Than You Think
   • Thanks to advancements in technology and increased competition, the cost of offering a 401(k) plan has decreased dramatically over the last three years. Marc highlights how affordable it has become for small businesses.

Featured Articles and Resources

• Wall Street Journal: Older Workers Can Now Supersize Their 401(k) Savings
  This article dives into the new “super catch-up” contributions for workers aged 60 and older, starting in 2025. Learn how this feature can help both employees and business owners boost their retirement savings.
• PlanSponsor: Plan Sponsors May Be Paying Too Much in DC Plan Fees
  Discover how 401(k) fees have dropped significantly, making it easier for small businesses to afford these plans without sacrificing quality.

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