401(k)s

Treat Retirement Plans Like a Business Unit, Not a Burden

Startup employees need 401(k)s, too.
Guest Writer
Chairman and CEO, First Western
1 min read
Opinions expressed by Entrepreneur contributors are their own.

Founders know that when you run a small business or a startup, cash is tight. You try to maximize margins whenever and wherever you can. You count paper clips, copies printed, the time it takes for receivables to arrive. That’s all to be expected.

But I bet I know one area that doesn't get that kind of attention: the retirement plan for your employees.

I know -- the rules can be baffling and often seem to change with every new Congress. And what about those fiduciary rule changes you've heard about?

Do you really know what’s going on? Or are you just starting to think about 401(k) plans for your employees?

Or maybe you have one already. If so, how often do you review or audit the plan? Are you paying too much? How much of the process do you do? Do you go it alone? If not, how do you choose your vendors? Do they specialize in businesses your size? The fees? The returns?

Lots of questions, I know. In this video, Paula Hendrickson, director of retirement consulting services at First Western Trust, explains how you can get some answers. 

More from Entrepreneur

Grow Your Business at Entrepreneur LIVE! Join us on Nov. 16 in Brooklyn, NY, to learn from legends like Danica Patrick and Maria Sharapova, pitch our editors, meet with investors, and potentially walk away with funding!
Register here

One-on-one online sessions with our experts can help you start a business, grow your business, build your brand, fundraise and more.
Book Your Session

In as little as seven months, the Entrepreneur Authors program will turn your ideas and expertise into a professionally presented book.
Apply Now

Latest on Entrepreneur

My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.