GTM Payroll Services recently added a 401K Domestic Workers Retirement Plan to their service.
The 401k Retirement Plan is the option most workers choose when it comes to saving for their retirement. Historically, there has not been an affordable solution that provides household employees this type of benefit. GTM has worked hard to overcome this obstacle and has announced the launch of a 401K Domestic Workers Retirement Plan.
This plan is an excellent way for families to retain and recruit the best employees. For a minimal cost to employers and employees, employees have the ability to save pretax, via payroll deferral, up to $17,000 a year. In addition, employers have the option to make tax-free contributions into the plan in the form of profit sharing contributions.
To learn more about the benefits of this plan and to enroll, visit their website.