When asked about the top challenges facing them, tech companies consistently cite access to and the retention of quality talent. MassTLC members are no exception, yet many companies, especially small businesses and startups, remain unable to offer the level of benefits—including comprehensive retirement plans—needed to lure the best employees.
Designing and administering a compliant 401(k) plan can be complex and costly for individual organizations, which is why we decided to create The MassTLC Retirement Plan. This group plan, a Multiple Employer Plan administered by Slavic 401(k) and UBS financial services, is an added benefit for all MassTLC members, regardless of size.
What’s in it for you? Multiple Employer Plans allow all companies to offer excellent, flexible retirement plans to employees, while still ensuring that these retirement plans are properly administered. This frees you from the burden (and cost) of designing and administering your own plans.
In other words, by joining The MassTLC Retirement Plan, members can avoid fiduciary liabilities and lots of paperwork—while also saving lots of money.
Just how much could your company and its employees save? Check out the infographics below for some case study numbers provided to us by our partners at Slavic 401k.
Note that the numbers displayed here represent total plan savings; in other words, they include both individual and company savings. For a more precise comparison, please contact a Slavic401k representative.
For smaller companies:
For larger companies:
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*Disclaimer: These numbers are an estimate. For a more precise cost comparison, please contact a Slavic401k representative.