Tech-driven 401(k) providers offer big savings.
Small businesses lag well behind large companies as retirement plan sponsors, a fact that many entrepreneurs blame on cost. But the rise of tech-driven 401(k) providers now offers entrepreneurs affordable alternatives that can sweeten employee compensation and boost morale.
Timing couldn't be better, as many large corporate providers are abandoning the small-business market because of low margins. The subsequent provider vacuum opens the doors for the new tech-driven provider, which may become the standard method for offering employees a retirement savings plan.
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