Photos in order by YKsin, herzeleyd, gianlucaneti and titaniumdreads

Photo by Tojosan

The Safe Harbor 401(k) is a type of 401(k) plan that waives compliance testing requirements.  Best of all, establishing a Safe Harbor plan does not cost any more than a regular plan.

What is compliance testing?

Compliance testing (also known as discrimination testing) ensures that you don’t establish a plan that treats your employees unequally. That means that your highly compensated employees can’t contribute significantly more than your other employees. This is a worry for smaller businesses who have an unequal numbers of highly compensated vs. non-highly compensated employees.

So what’s in it for the employer?

• You ensure success with the plan administration by automatically passing the discrimination test
• You can deduct employer contributions from taxes as a business expense.
• You enhance your benefits package to reward current employees.
• You can take advantage of this as a recruiting tool for new talent.

What’s in it for the employees?

• Employees receive either a contribution of 3% of their compensation on their behalf or a generous matching contribution
• You can decide if highly compensated employees will receive the same match benefit.
• Highly compensated employees are able to deer the maximum dollar amount for the plan year, regardless of what the other employees defer.
• Both employee and employer contributions are pre-tax.
• Your mandatory employer contributions are 100% vested.
• Employee deferrals are always 100% vested.

This article comes to you from The Online 401(k), a provider of 401(k)s for small businesses. For more information or a free consultation on your 401(k) plan, contact John Wasiejko at jwasiejko@theonline401k.com or call us at 415.477.8800 xt 828.

photo by Wolfrage

Take Advantage of Labor Day and celebrate.

Dedication to a nonprofit’s mission and vision by individuals most for profits can only dream of. Labor Day is a time of reflection of its working citizens.  It is an opportunity for organizations to observe their employees as an asset to the organization.  It is an opportunity to remember those who dedicated their life on behalf of the organization.  In death many of these individuals still impact those they left behind.  It is with passion, compassion and other strong feelings that these individuals are honored and remembered.  Some people will have created foundations, scholarships, locations, and businesses.

It is an opportunity to adapt to a changing environment when new priorities, evidence base practices of success and directives presented. It is an opportunity to acknowledge an acceptance and evolution of the organization of new thinking, approaches and/or expectations.

The casualty of this day will only be those organizations whom do not take the opportunity to seize and utilize this day of recognition to PROMOTE and ADVANCE the ORGANIZATION.

Photo by TW Collins

Photo by S Christopher

Convey to those reporting to you your style.  Let your staff know what values of the organization are important to you.  The strengths of how you can help, your expectations of their performance, how, where and when to communicate and interact with you, the expected feedback loop, and how mistakes will be dealt with.  In closing how can the staff help you? 

Incompetence is a funny word and is only relevant to the official requirements of the duties laid out to the person.  If you provide a person with one set of expectations and then are looking for a different set of results then it is not incompetence when they are not met.  However, there is opportunity to rectify the situation by communicating changes in expectations.   The norm to whine is a bad habit for most human beings.  It is easier to whine then to do something about.  Good Leadership knows when it is time to break out of the box of whining and begin to think of solutions.  As a leader you direct staff to the means of learning and growing to think constructively. 

Today there is a difference for leadership to convey a message whether it is Generation X or Generation Y.    I would suggest you check out this link to Boomer’s Guide to Communicating with Generation X and Y by Karen Auby.

 Photo by Xtrerant

Being honest to your self is the best policy and business practice.  You will be more successful.

Balancing the job and your life begins with setting priorities.  You can call the exercise simple strategic planning for yourself.  You will later attribute the quality time you have obtained to the day you took time to think and plan.   In today’s era of constant connection, communication usually can happen anytime and anywhere.  It is one of the reasons I vacation part of the year where the Internet and cell phone are not reliable.  I love working but it’s healthier and energizing to hang out around the bonfire my boys built, building a stone fort for the boys, they are camouflaging it, make Taco dinner with my youngest who hates vegetables but tonight ate his mixing of (salad, beans and tomatoes), played the card game Wizard with my spouse and older son; these countless hours passed but were quality memorable moments.  The way that I remind myself of the priorities is whether someone else could do the job and will the opportunity of this event with family arise again.  

When I was single and hated the dating scene or had that pressure when in a relationship to interact with new people it was easier to make work the focus.  From an interpersonal point of view it was easier to be married to work.  There was then the least amount of time spent on personal interaction.  It is funny to look back at how many people in the world are doing the same thing today.  I like to hear the excuses for calling home and canceling dinner with the spouse. Cancelling going to that concert which the person spent loads of money for and had wanted to attend for the last five years. 

It is all right to take risks and seize opportunities that take some extra time, but remember that time does not repeat itself, once it has past it’s gone.  Risk taking is an every day occurrence by us all.  Most of us ignore the fact, put the label on specific entrepreneur spirit and say that’s for the other person.  The insurance industry calculates risks for getting hurt at home, risk of death at what age, risk of disease, risk for driving a car, risk for work accidents, risks of being sued, etc, etc., etc.  So think about yourself, implement your strategic plan process with that entrepreneur spirit you have towards work and invest your time and money in your future.  Productivity will improve if you treat employees as an asset that needs to be nurtured.
 

Photo by Daniel Y Go 

Having trouble sleeping at night?Feeling on edge or in fear?

Has your stomach has been uneasy and giving you some indigestion?

The title tells it all.  Is it because you need to lay someone off? Telling the truth will empower you. While I am not saying it is ever easy, there is a need to separate the needs of an organization and the needs of an individual.  However, one key to successfully communicating to an employee is letting them know why and making the termination immediate or the shortest time possible.  The other key element to keeping good employees is knowing where in the organization hiring may be occurring that the individual may be able to fill.

The individual whom does every avoidance mechanism to put off telling some one they are no longer needed does not help the organization or the employee.  There is no way to avoid having this employee feel they are not valuable enough to the organization to be the priority employee to retain.

Photo By Michael C Swigart

To the degree possible it is important to identify unbias resources.  I look to the federal government to be that neutral party to suggest information and variables to consider in making decisions about 401k’s.  Transparency is key.

There’s never been a better time to think about putting a retirement plan in place for your small business. Recent legislation is forcing 401(k) providers to be more transparent about their costs and fees.

We think that’s a good thing.

Read about what this means for you at the San Francisco Chronicle.

Read more about this in the Wall Street Journal.

This article comes to you from The Online 401(k), a provider of 401(k)s for small businesses. For more information or a free consultation on your 401(k) plan, contact John Wasiejko at jwasiejko@theonline401k.com or call us at 415.477.8800 xt 828.

Photo by Kid Paparazzi

This year has been a tough time for college students to juggle all of the changes going on in the obtaining funds for college.  NPCM committed some resources  to try to make going to college a little easier for students and their supporters.  Check out http://funding-college.net/.  It has lots of information on how to access loans and grants, how to save money or cut costs while at college, and provides lots of tips to get the most out of college while a person is a student. Feel free to make it a resource for your employees.

Vaccinations are not just for children.  What a shot in the arm will do for your health.  If a child can do it, so can you.

Photos by Tango Pango

They are the least costly way to maintain a persons health.  Parade Magazine’s August 17 issue is a quick read summary for learning why.   Providing information to individuals is a low cost and as simple as sending an email or an electronic newsletter.  When it comes to health care there is never too many reminders.   Reminders and information will improve employees attitudes, understanding their choices, manage their health better and yes improve their health.  The end result is more productivity from healthy employees and maintaining or lowering an organization’s health care premium costs.

Photo by Stuck in customs

Photo by Hrychowian

Too many times 401k fees are mysterious and magically appear.  But that is not what needs to happen.  Nonprofits and individuals let fees go unchallenged.  Demand to know what the fees are and why.

Are you a small non-profit that’s on the fence about putting a 401(k) plan into place?
You’re not alone. Only 43% of the smallest companies (10-19 workers) polled in a recent survey   offered 401(k) plans, yet it’s an essential tool for hiring and retention. In fact, 91% of workers in the same survey rated employee-funded retirement plans as very/somewhat important — nearly as important as health and disability insurance.

So what’s holding these companies back? Many companies have misperceptions about 401(k) plans. We’ll debunk some of these popular myths:

401(k) plans are too expensive for small businesses
One of the biggest hurdles that small businesses face is cost.  Many 401(k) plans are built for larger companies, with bigger price tags.

However, with technological advances, more providers are offering efficient, online 401(k) plans that can help small businesses cut costs and meet their individual needs. Depending on the provider, the cost of a 401(k) plan can be as little as $100 a month.

We don’t want to provide an employer match
Some businesses believe that all retirement plans require an employer match. Not 401(k) plans. Employers are not required to provide an employer match, but can add one at any time.

Our employees won’t participate because they don’t make enough money
This is where selecting a good 401(k) provider is crucial. The 401(k) plan you ultimately select will offer participant education programs and resources that will help educate your employees on the importance of savings. And with a 401(k), there’s no minimum — your employees can contribute as much as they want to.

It’s too complicated
Putting a 401(k) plan into place shouldn’t be complicated. Depending on your 401(k) provider, getting a new plan up and running should only require a few hours of your time. And the 401(k) provider you select should make it easy for you to administer your plan: Easy-to-use tools and reports should be at your fingertips.

So now that these fears are put to rest, it’s time that you get out there and start looking at establishing a 401(k) plan. Your company and its employees deserve it.

This article comes to you from The Online 401(k), a provider of 401(k)s for small businesses. For more information or a free consultation on your 401(k) plan, contact John Wasiejko at jwasiejko@theonline401k.com or call us at 415.477.8800 xt 828.