401K Planning for Small Businesses in Springfield, IL

A 401K is a workplace savings plan that lets employees invest a portion of their paycheck before taxes are taken out. The savings can grow tax free until retirement, at which point withdrawals will be taxed as ordinary income. A large majority of employers will match an employee’s contribution – up to a point – thereby boosting the employee’s savings rate.

While having a 401K program creates an attractive benefit to potential employees and improves employee retention, it also can provide a tax savings. Because overall employees’ taxable income is reduced with pre-tax 401K contributions, overall employer payroll taxes may be reduced significantly.

TEC Consulting Group LLC has digital marketing experts in the major metropolitan areas of Springfield, IL, Including: Chatham, Taylorville, Lincoln, Jacksonville, Decatur, Pekin, Canton, Morton, Bloomington, East Peoria, Normal, Peoria, Bethalto, Godfrey, and Washington, Illinois.

Contact our Springfield, Illinois Digital Marketing Office to discuss your internet marketing needs.