However, if you’re frequently exchanging documents with other popular office suites like MS Office, or are heavily using Office, the shift may not be worth it. As an employer, you are not required to match contributions or contribute at all to your company’s 401(k) plan; however, to be competitive, most employers do. If you choose to match your employees’ contributions, you do have the option of altering the amount to fall somewhere between 1% and 3% for two out of every five years. You can either match the first 3% of the employee’s contribution dollar for dollar, which by the way does help encourage participation by your employees, or you can opt to make a non-elective contribution equal to 2% of your employees’ pay. With this plan, your employees can make monthly contributions (salary deferrals), and you, as the employer, have the option of two types of contribution methods. You can also set up a vesting schedule for the contributions you make to your employees’ accounts.

Your contributions are tax deductible. They can also roll the account over to another SIMPLE IRA account with no tax penalty. But most who have existing centers believe they have definitely saved money over the long run. An adoption-assistance program for your employees can range from simply providing resources and recommendations, to paid maternity or paternity leave, to providing financial assistance for your workers who are trying to build families through adoption. Aside from these most common benefits discussed so far, there are many other forms of benefits you can offer your employees. Your employees can control how their accounts are invested, and are full-owners (there is no vesting period) from the very beginning. Company productivity will be increased because your employees have reliable childcare and fewer absences. Prompt coverage of the task will certainly take the development work in the ideal direction. According to a study by WorkLife Benefits in Cyprus, California, 20 percent of non-working mothers of young children do not work because they see quality childcare as unaffordable or unavailable. The plan is simple with regard to reporting requirements, and it isn’t subject to nondiscrimination and top-heavy rules that limit the benefits provided to your highest paid employees.

There are many benefits, including a boost in your company’s ability to recruit and retain employees. There are also many families who could never hope to adopt if it weren’t for the financial assistance and support of their employers. You even have the option of contributing on behalf of employees who aren’t participating as long as they are eligible. The SIMPLE 401(k) plan has many of the same requirements and features as the SIMPLE IRA, but it allows your employees to contribute a pre-tax portion of their salary. As with the SIMPLE IRA, you must have fewer than 100 employees and offer no other employer-sponsored retirement plan. You’ll also be paying up to one-third of the expenses of the center if you want it to be affordable for your employees. How far back do you want to go in converting paper files? Phyllis was a casting agent for the show before she got the part of Phyllis. Parks often take great care to control how tourists interact with geysers, in part because tourists can harm geysers with their trash and debris, but also because geysers are quite capable of harming tourists as well: In 1903, four tourists visiting New Zealand got caught in a geyser jet in Waimangu Valley.

Employees can invest up to $8,000 in 2003, can tailor their own investments, can borrow from their accounts, and earnings are tax-deferred until they are withdrawn. The downside to a company-owned childcare center is the fact that you have to keep the center going even if your employees have few children. In the next section, we’ll begin with a few tips on staying calm. In the next section, we’ll learn about money purchase plans. On the flip side, money-purchase plans give employers the maximum tax advantage possible. Energy-efficient designs, like using solar or wind power, help make this possible by wasting very little. This is just another way to help motivate employees to stay with the company longer. Employees can contribute up to 25% of their salaries or a maximum of $40,000 per year. An SEP plan is basically individual IRAs set up for all of your employees that aren’t subject to the $2,000 per year IRA limit. You do have the flexibility to alter your contributions year to year based on the profitability of your company.