In addition to the above, we generally recommend the following for 401k Easy Docs prototype plans:
PLAN PARAMETER | RECOMMENDATION FOR MOST Small 401k PLANS* |
PLAN YEAR | January 1 - December 31 |
NORMAL RETIREMENT AGE | 65 |
EARLY RETIREMENT AGE | No early retirement age |
HARDSHIP WITHDRAWALS | Include (mandatory under IRS regulations) |
PARTICIPANT ACCOUNT STATEMENTS | Monthly. With Small 401k, plan participants have the self-service freedom to view/print account statements at any time. |
Understanding the potential effect each option has on a 401k plan's popularity and thus its worth cannot be universally mapped out, as such vary with company size, worker preferences and other company-specific parameters. We are happy to discuss potential effects with you and recommend that interested parties submit the appropriate order form and use the "Unsure. Please contact..." buttons to indicate about which items you need more information. As explained within "No Money Due at This Time: The Order Fulfillment Process" see above), submitting an order form in no way obligates your company to placing an order.
(