Small Business
Small Business
SIMPLE 401(k)

Help your employees to save for retirement.   Payroll contributions with an employer match make it easier for your people to meet their retirement savings goals. That's why 401(k) plans and the companies that offer them are so popular with employees. The PNC SIMPLE1 (Savings Incentive Match Plan for Employees) 401(k) is designed and priced for small businesses. 

Real Benefits for Your Business

Including a SIMPLE 401(k) plan in your benefits package could be one of the smartest business decisions you'll ever make.

  • Costs are low, and in addition to any matching contribution you decide to make, largely administrative. Overall, costs can be much lower than those of traditional pension plans.
  • The SIMPLE 401(k) is flexible. You design the plan that fits the needs and investment goals of your company and employees.
  • Fund the plan solely with employee contributions or match them. Matching contribution levels are as flexible as current law allows, and your contributions are tax deductible.
  • Helping your employees to save for tomorrow boosts loyalty today - and that can have a positive impact on your recruitment and retention costs.

Real Security for Your Employees

Employees save for retirement one payroll contribution at a time. Whether they invest at the legal limit or make modest contributions, regular savings over time into a SIMPLE 401(k) can help them retire more comfortably.

  • How much employees save and invest is up to them. They select the investments1 that best meet their retirement planning needs. Of course, they can reallocate funds as their needs change.
  • All payroll contributions are pre-tax. That lowers their tax burden today, and typically, when the time comes to withdraw their money, they'll be retired and taxed at a lower rate.
  • Emergencies do happen so, subject to special rules, employees can make hardship withdrawals from their accounts without penalty. If you select the loan option, employees can borrow from their accounts and repay their loans at market interest rates.

It's Easy to Get Started

Just call 800-762-5684 between the hours of 7:00 a.m. to 10:00 p.m., ET, Monday through Friday and 8:00 a.m. to 5:00 p.m., ET, Saturday and Sunday, or drop into your nearest PNC Bank branch. Our Business Banking representatives have the retirement planning and employee benefits information you'll need.

 

PNC does not provide legal, tax or account advice. You should consult with your own attorney and/or advisor regarding the legal and tax implications of the strategies discussed above.

1. Not FDIC Insured. May Lose Value. No Bank Guarantee.  Important Investor Information: Securities and brokerage services are provided by PNC Investments LLC, member FINRA, and SIPC. Annuities and other insurance products are offered by PNC Insurance Services LLC, Inc. a licensed insurance agency. Investment products are not FDIC insured, may lose value and are not guaranteed by PNC Bank, National Association or its bank affiliates. PNC Investments, LLC is a subsidiary of PNC Bank, National Association.