Having extra benefits is one of the absolute best things that any employee can ask for, but deciding which ones to get can take more time than you might like. Rather than rushing through your options or selecting the most common types, you’ll be better off taking your time and really thinking about the choices that you make.
As far as your 401(k) goes, “The IRS allows you to contribute up to a set maximum, which changes from year to year, to your 401(k) Many experts agree that it is best to take out as much as you can afford right away instead of going back and trying to do it later once you are used to having the money. Try to sign up for the highest percentage contribution option you are allowed. You’ll be glad you did later.
Usually, you will have to decide which funds you want the money to be put into. Remember, you can go back and change this later if you decide on a different strategy. ”
Determining the right strategy for your 401(k) funds may seem a bit daunting, but with the help of a company that offers financial services, you should be able to select the investment vehicles that can help you meet your future goals.
In addition to standard Virginia group benefits, you might also consider offering benefits such as employee discounts, elder care benefits, flexible time benefits, counseling programs and pension plans. If there is ever a type that you’re interested in but you don’t understand, ask an expert to check out more information.
If you want to select the best quality VA employee benefits for your business, be sure to get in touch with our team here at Financial Brokerage Services. We can help you to design and implement custom tailored employee benefit solutions for your company.
(Article Excerpt and Image from “Employee Benefits: How to Know What to Choose”, Investopedia, June 16, 2009)