Benexx/Pro-Factors Payroll 401k Plans

Prosperity Through Growth

No Setup Fees

No Document Fees

No Administrative Charges

Maximum Flexibility

Employers can decide if they want to contribute matching funds to their employees, and if so how much. This match can either be a fixed amount (such as 6% per year) or vary depending on company profits. Employers can also decide which requirements employees must have in order to receive their match (such as work 1,000 hours or be employed on a certain date). This gives employers a powerful tool to reduce turnover and reward long-term employees.

Employees also have the flexibility of determining whether they would like to participate or not in the plan and can defer paying taxes on any amount of their salary from $0 to $14,000 each year.

Plans Are Portable

If you change your job, the money that is set-aside can be “rolled over” into another 401k plan or into an individual retirement account (IRA), without any taxes due. Or you may simply cash out of your plan, paying taxes from the proceeds.

Investment Options

The best plans give employers the ability to select any investments, especially low cost investment options such as index funds, from multiple fund families.

Protected Assets

Unlike contributions in an IRA or money in your bank account, contributions set aside in a qualified employer-based retirement plan are secured from creditors and may not be seized, even in the event of default or bankruptcy. This protection generally covers assets against all commercial and legal claims with the exception of unpaid alimony and child support.