A Smarter Way to Save
The Paychex Pooled Employer 401(k) Plan (PEP) streamlines retirement savings by consolidating assets into one large plan. This approach reduces administrative costs, saves time, and opens tax credit opportunities under the SECURE Act. Employers can easily provide a high-quality retirement plan to their employees, with less effort and greater savings.

Pooled Employer Plan vs. Traditional 401(k): Appealing to Both Employee & Employer
A 401(k) account is a highly valued employee benefit, enabling participants to contribute pre-tax or after-tax (ROTH) wages towards retirement. This not only helps employees secure their financial future but also keeps employers competitive in attracting top talent. To simplify management and avoid complications, consider adding a safe harbor 401(k) plan alongside traditional options.

You're not alone. Even as a one-person business, you can still access retirement accounts. The Solo 401(k), also known as an Owner-only 401(k), allows self-employed individuals to maximize contributions by acting as both employer and employee, boosting retirement savings from both sides.

A SIMPLE IRA (Savings Incentive Match Plan for Employees) is designed specifically for small businesses, enabling employees to save for retirement with tax-deferred contributions. When comparing this with a 401(k) plan, it’s important to recognize that each option suits different business sizes and employee needs. Choose the plan that best aligns with your company’s structure and goals.

Cost-Efficient, Simplified Administration: A Multiple Employer Plan (MEP) is a shared retirement plan for employers with common interests, typically sponsored by a professional employer organization (PEO). By pooling resources, employers save time and reduce costs.