Published April 04, 2012
Most small business owners are so busy trying to make payroll each week that they barely have time to plan for their own future, let alone the future of their employees. Instituting and managing a retirement plan or 401(k) may be well beyond what most businesses are able to do.
To remedy that situation, many businesses are offering new retirement plan solutions aimed specifically at small businesses.
This week, Bank of America, announced the launch of a new 401(k) solution from Merrill Edge designed for small businesses, called the Merrill Edge Small Business 401(k). It offers a retirement solution for small business owners, who generally have 401(k) plan assets under $250,000. The Merrill Edge Small Business 401(k) is a simplified, easy-to-manage retirement plan with lower costs than many traditional 401(k) plans, enabling small businesses to provide an important benefit to their employees.
The Merrill Edge Small Business 401(k)is self-serviced and managed completely online, giving small business owners secure access when and where it is convenient for them. Additional features and benefits include:
This solution also gives employees a platform through which they can easily manage their retirement investments. Features include:
“Merrill Edge Small Business 401(k) gives small business owners and their employees access to benefits of the Merrill Edge services,” said Alok Prasad, head of Merrill Edge for Bank of America. “Merrill Edge’s simplified and transparent features enable customers to efficiently manage all their investment and retirement accounts, helping them prepare for the years ahead.”
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