Sometimes a Simpler Plan is Better Than a 401K

The owner of small company wanted to set up a 401 K but his employees did not all wish to participate. We advised him that this would make a 401 K costly, as he would have to contribute for all employees, even those who did not contribute themselves. Furthermore, some of the other requirements would be difficult for him to meet. Instead, we suggested a much simpler plan that would provide the retirement security that the owner desired, with provisions for the designated employees who wanted to participate.