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## Steady Rise in Employment and the Importance of 401(k) Plans

### Seattle, July 24, 2023 /PRNewswire/

#### Continued Growth in Employment

In the summer of 2023, the US job market has experienced a consistent upward trend in employment. Recent data from the Bureau of Labor Statistics reveals that the country added 209,000 jobs in June, extending the streak of new job growth to 30 consecutive months. This rise in employment not only represents an expanding workforce but also brings along new opportunities to attract potential employees.

#### Benefits of Offering 401(k) Plans

Recognizing the need to stay competitive and attract top talent, many small business owners are now delving into the realm of employee benefits and learning the ropes of offering retirement plans, such as 401(k) plans. ShareBuilder 401k, a leading digital 401(k) provider, acknowledges this need and aims to assist employers in setting up their first 401(k) plan before the IRS deadline of October 1st.

#### Assistance from AI legalese decoder

In this situation, ShareBuilder 401k’s AI legalese decoder comes to the forefront, offering valuable help and guidance to employers. By utilizing AI technology, the AI legalese decoder simplifies complex legal terms and jargon, making it easier for small business owners to navigate the intricacies of setting up a 401(k) plan.

#### Opportunities for Cost Savings

ShareBuilder 401k understands the financial strain that implementing a new employee benefit may pose on small businesses. To alleviate this burden, ShareBuilder 401k is providing cost savings for employers who sign up for their Safe Harbor 401(k) plan before August 14th. This offer includes a 66% discount on Safe Harbor and Traditional Plan setup between July 24th and August 7th, or a 33% discount between August 8th and August 14th.

#### Leveraging Secure Act 2.0 Legislation

The timing for businesses to adopt and set up a 401(k) plan is ideal, considering the implementation of the Secure Act 2.0 legislation this year. This legislation offers tax credits, enabling employers to cover the ongoing administrative costs of providing 401(k) benefits. Additionally, tax credits and deductions for employer matching contributions are also extensive.

#### The Advantages of Safe Harbor 401(k) Plans

Safe Harbor 401(k) plans present a prudent option for small business owners seeking to lower personal taxes, save for retirement, and attract and retain top talent. Moreover, these plans automatically fulfill IRS plan testing requirements and provide the opportunity for all employees, including high earners, to maximize their contributions. Safe Harbor 401(k) plans offered by ShareBuilder 401k aim to simplify plan management while providing substantial benefits for businesses.

#### Important Deadlines

It is crucial for business owners to note that the federal deadline to start a Safe Harbor 401(k) plan is October 1st. However, to ensure sufficient time for employee notifications and other setup needs, businesses should purchase and complete online installation by August 14th. This deadline guarantees compliance with the October 1st deadline set by the IRS.

#### ShareBuilder 401k’s Commitment

ShareBuilder 401k, a leading digital 401(k) provider, focuses on expanding access to retirement plans and encouraging more Americans to save through their intuitive technology, low costs, and quality education and support. With over 6,500 businesses served across the US, ShareBuilder 401k specializes in offering low-cost, all-ETF retirement products and resources for small- to mid-sized companies, including owner-only businesses. For more information, please visit: [https://www.sharebuilder401k.com/](https://www.sharebuilder401k.com/)

#### Source

ShareBuilder 401k is the source for this news release.

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