April 28, 2017
There’s no question that finding good employees for your CNC shop is challenging – as is holding onto them. Employees leave companies for a variety of reasons including uncertainty about their financial futures, particularly their ability to someday retire comfortably. One way to relieve this concern is to establish a 401 (k) plan. The IRS has specific guidelines for such plans, but in general here’s how they work:
If you decide that a 401 (k) plan is a good way to retain and reward your loyal employees, consult with trusted financial advisors to make sure you choose the plan that best fits your CNC shop.