Where hourly workers are present OR for dynamic compensation plans!
Healthcare
Education
Retail
Logistics
Hospitality
Manufacturing
Distribution
"A 401(k) doesn't work well for lower income employees because most can' t afford the pay deductions."
Introducing: Radish
The Radish Plan is a cost-effective way for employers to help make these employees more financially secure.
This plan is totally flexible including which employees will be eligible and the reasons why they will be rewarded. Options include continuing employment, meeting performance and/or safety standards etc.
WhyChooseUs?
401K plansareoutdated, underutilized,and do not ensure employee loyalty.
Over 60% of Americans are living check-to-check. Expecting employee contributions to a plan that is out of their reach is unrealistic. High inflation, lingering student loans, rising housing costs are just some of the challenges for your staff.
Learn How The Radish Plan is Redefining Employee Benefits!
Review the respected media coverage of Ted Benna below.
He is the famous founder, innovator, and designer behind The Radish Plan.
in the News
We utilize Ted’s highly applauded model with “the father of the 401k" in our corner as a mentor, advisor, and investor.
Use Case
A typical case study using the Radish model
XLC LLC, an HVAC company, employed 167 employees in two locations. The company culture centered around a mission to provide lifetime employment to the local community with secure retirement exits down the line. The primary obstacle emerged from a high cost of living and an average salary of $55,000, which left little to nothing after tax for 401K contributions. The 401k program was complex, expensive, difficult to manage and they saw low participation rates.
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Name Surname
Position, Company Name
“ This app gives me peace of mind knowing exactly how much my work savings account is growing. It’s so easy to use, and I love getting real-time updates about my balance. It's helped me stay motivated and on track with my financial goals! ”
Name Surname
Position, Company Name
This is the text area for this paragraph. To change it, simply click and start typing. Once you've added your content, you can customize its design. This is the text area for this paragraph.
Name Surname
Position, Company Name
This is the text area for this paragraph. To change it, simply click and start typing. Once you've added your content, you can customize its design. This is the text area for this paragraph.
Name Surname
Position, Company Name
“ This app gives me peace of mind knowing exactly how much my work savings account is growing. It’s so easy to use, and I love getting real-time updates about my balance. It's helped me stay motivated and on track with my financial goals! ”
Name Surname
Position, Company Name
Testimonials
Frequently Asked Questions
Must the IRS approve the plan?
An IRS approved prototype or a custom designed plan document must be adopted by each employer. The Wagner Law Group, one of the countries leading ERISA firms, has prepared a simplified prototype. They will also prepare a customized document if you prefer.
What design options do we have?
There are very few rules that must be followed. As a result, the plan can be designed however you wish, and we will help you do that. We will then prepare what is needed to implement the plan.
Which employees are eligible?
The primary goal for this plan is to help middle to low-income employees by giving them incentives that will be contributed into an actual qualified retirement plan account. The plan can cover all employees who own less than 5% of the business or who make less than $155,000 per year. You have complete freedom to decide which of these employees will be eligible.
Can I adopt this plan if we already have a plan?
Yes, you may do so regardless of which type of plan you currently offer.
Can this be part of our 401(k) plan?
Yes, it can be, but there are many reasons why a separate plan is probably your best option. We will gladly discuss this with you.
Can we start the plan anytime?
The first day of the month is the best time and you can pick any month you want.
