Today, most small business owners are seeking ways to recruit and retain higher caliber employees.  One such way to achieve this goal is to provide employees with a benefits package that includes a 401(k) retirement plan.   However, some small business owners are opting not to offer a 401(k) retirement plan as a part of their benefit package.  Why?   They believe that 401(k) retirement plans are too expensive and burdensome to maintain.

Canal HR can help you build a more attractive benefits package by offering a 401(k) retirement plan that is managed by Retirement Alliance.

Canal HR will handle all of the recordkeeping, and administrative cost associated with the 401(k) retirement plan.  Canal HR will also conduct the year-end audit as well as file the IRS form 5500s.

  Plan Highlights:

• Employee Contributions are pre-taxed
• 29 investment fund options managed by Retirement Alliance
• Plans are invested with Charles Schwab Trust Company
• Participant access via Internet and Interactive Voice Response system
• Participant loan provision
• Quarterly statements
• Additional catch-up contribution provision provided
• Employer contribution (optional)
• Several vesting schedule options
• Professional customer service Representatives available