bake - September 2015 - 12
management
How to Set Up
a 401(k)
As the labor pool becomes a bit tighter, small business owners
look for time-tested ways to recruit and keep workers. For
example, 401(k) plans are a valuable option for businesses
considering a retirement plan, providing benefits to employees
and their employers.
Employers start a 401(k) plan for many reasons, including
MARK LAMOYNE/SHUTTERSTOCK
the fact that it allows participants to decide how much to
contribute to their accounts. Employers are entitled to a tax
Once you have decided on a 401(k) plan, you will need to
deduction for contributions to employees' accounts.
choose the type of 401(k) plan that is best for you - a traditional 401(k) plan, a safe harbor 401(k) plan, or an automatic
The money contributed may grow through investments in
enrollment 401(k) plan. In all of these plans, participants can
stocks, bonds, mutual funds, money market funds, savings
make contributions through salary deductions.
accounts, and other investment vehicles.
A traditional 401(k) plan offers the maximum flexibility among
Contributions and earnings generally are not taxed by the
the three types of plans. Employers have discretion over
federal government or by most state governments until they
whether to make contributions for all participants, to match
are distributed. Further, a 401(k) plan may allow participants
employees' deferrals, to do both, or to do neither. These contri-
to take their benefits with them when they leave the company,
butions can be subject to a vesting schedule (which provides
easing administrative responsibilities.
that an employee's right to employer contributions becomes
non-forfeitable only after a period of time). Annual testing
Establishing a 401(k) Plan
ensures that benefits for rank-and-file employees are propor-
When you establish a 401(k) plan, you must take certain basic
tional to benefits for owners/managers.
actions. One of your first decisions will be whether to set
up the plan yourself or to consult a professional or financial
There are several kinds of 401(k) plans that aren't subject to
institution - such as a bank, mutual fund provider, or insurance
the annual contributions testing required with traditional 401(k)
company - to help with establishing and maintaining the plan.
plans. These are known as safe harbor 401(k) plans and, in
exchange for avoiding the annual testing, employees in these
In addition, there are four initial steps for setting up a 401(k) plan:
plans must receive a certain level of employer contributions.
* Adopt a written plan document.
Under the most popular safe harbor 401(k) plan, mandatory
* Arrange a trust for the plan's assets.
employer contributions must be fully vested when made.
* Develop a recordkeeping system.
* Provide plan information to employees eligible to participate.
An automatic enrollment 401(k) plan allows you to automatically enroll employees and place deductions from their sala-
Plans begin with a written document that serves as the founda-
ries in certain default investments, unless the employee elects
tion for day-to-day plan operations. If you have hired someone
otherwise. This is an effective way for many employers to
to help with your plan, that person likely will provide the docu-
increase participation in their 401(k) plans.
ment. If not, consider obtaining assistance from a financial institution or retirement plan professional. In either case, you will be
The traditional, safe harbor, and automatic enrollment plans are
bound by the terms of the plan document.
for employers of any size. US DEPARTMENT OF LABOR
12 < SEP 2015 | bakemag.com
http://www.bakemag.com
bake - September 2015
Table of Contents for the Digital Edition of bake - September 2015
bake - September 2015
Editor's Note - French Evolution
Table of Contents
News Bites - IBIE calls for speakers for 2016 show
Honeyville to launch two ancient grain flours
Corbion Caravan introduces egg white replacer
My Favorite Things
Management - How to Set Up a 401(k)
Labor Front - Wage Increases?
Ingredients - Put Some Chocolate In It
Equipment - Cool Tips for Cakes
A New Standard
Get into Grocery
Wholesale Advantage
Clean and Legal
Pretzels still kickin'
Pie Reinvented
Add Tortes
Great Things Come in Small Packages
Cafe - Luna Acquires Boyer’s
The Versatile Waffle
Products
Product Showcase
Classifieds
Management
Bakemark's Panaderia - September 2015
INTRODUCCIÓN - Póngale Diversión al Sabor
INTRODUCTORY LETTER - Put the Fun in Flavors
SABOR PARA LLEVAR - Bocadillos Individuales
PASTELES Y DECORACIONES - Los Pasteles Personalizados Tienen Alta Demanda
Explorando en Busca de Nuevos Sabores
PROMOCIÓN DIRECTA - Comercialización Visual
TENDENCIAS DEL CONSUMIDOR - El Poder del Servicio Alimenticio
PERFILES - El Bolillo Bakery
Arandas Bakery
Panadería Tierra Caliente
La Michoacana
PRODUCTOS DESTACADOS
BREADS AND BAKING - Single Snacks
CAKES AND DECORATING - Custom Cakes in High Demand
The Quest to Add New Flavors
MERCHANDISING SPOTLIGHT - Visual Merchandising
SHOPPERS INSIGHT - Foodservice Power
PROFILES - El Bolillo Bakery
Arandas Bakery
Panadería Tierra Caliente
La Michoacana
FEATURED PRODUCTS
bake - September 2015 - bake - September 2015
bake - September 2015 - 2
bake - September 2015 - Editor's Note - French Evolution
bake - September 2015 - 4
bake - September 2015 - 5
bake - September 2015 - Table of Contents
bake - September 2015 - 7
bake - September 2015 - Corbion Caravan introduces egg white replacer
bake - September 2015 - 9
bake - September 2015 - My Favorite Things
bake - September 2015 - 11
bake - September 2015 - Management - How to Set Up a 401(k)
bake - September 2015 - 13
bake - September 2015 - Labor Front - Wage Increases?
bake - September 2015 - 15
bake - September 2015 - Ingredients - Put Some Chocolate In It
bake - September 2015 - 17
bake - September 2015 - Equipment - Cool Tips for Cakes
bake - September 2015 - 19
bake - September 2015 - A New Standard
bake - September 2015 - 21
bake - September 2015 - 22
bake - September 2015 - 23
bake - September 2015 - 24
bake - September 2015 - 25
bake - September 2015 - 26
bake - September 2015 - 27
bake - September 2015 - Get into Grocery
bake - September 2015 - 29
bake - September 2015 - 30
bake - September 2015 - 31
bake - September 2015 - Wholesale Advantage
bake - September 2015 - 33
bake - September 2015 - 34
bake - September 2015 - 35
bake - September 2015 - 36
bake - September 2015 - 37
bake - September 2015 - Clean and Legal
bake - September 2015 - 39
bake - September 2015 - 40
bake - September 2015 - 41
bake - September 2015 - Pretzels still kickin'
bake - September 2015 - 43
bake - September 2015 - Pie Reinvented
bake - September 2015 - 45
bake - September 2015 - 46
bake - September 2015 - 47
bake - September 2015 - Add Tortes
bake - September 2015 - 49
bake - September 2015 - 50
bake - September 2015 - 51
bake - September 2015 - Great Things Come in Small Packages
bake - September 2015 - 53
bake - September 2015 - Cafe - Luna Acquires Boyer’s
bake - September 2015 - 55
bake - September 2015 - 56
bake - September 2015 - 57
bake - September 2015 - The Versatile Waffle
bake - September 2015 - Products
bake - September 2015 - Product Showcase
bake - September 2015 - 61
bake - September 2015 - Classifieds
bake - September 2015 - 63
bake - September 2015 - 64
bake - September 2015 - 65
bake - September 2015 - 66
bake - September 2015 - Management
bake - September 2015 - 68
bake - September 2015 - Blank - 1
bake - September 2015 - Blank - 2
bake - September 2015 - Bakemark's Panaderia - September 2015
bake - September 2015 - Pan - 2
bake - September 2015 - INTRODUCCIÓN - Póngale Diversión al Sabor
bake - September 2015 - INTRODUCTORY LETTER - Put the Fun in Flavors
bake - September 2015 - Pan - 5
bake - September 2015 - SABOR PARA LLEVAR - Bocadillos Individuales
bake - September 2015 - Pan - 7
bake - September 2015 - Pan - 8
bake - September 2015 - Pan - 9
bake - September 2015 - PASTELES Y DECORACIONES - Los Pasteles Personalizados Tienen Alta Demanda
bake - September 2015 - Pan - 11
bake - September 2015 - Pan - 12
bake - September 2015 - Pan - 13
bake - September 2015 - Explorando en Busca de Nuevos Sabores
bake - September 2015 - Pan - 15
bake - September 2015 - Pan - 16
bake - September 2015 - Pan - 17
bake - September 2015 - PROMOCIÓN DIRECTA - Comercialización Visual
bake - September 2015 - TENDENCIAS DEL CONSUMIDOR - El Poder del Servicio Alimenticio
bake - September 2015 - PERFILES - El Bolillo Bakery
bake - September 2015 - Pan - 21
bake - September 2015 - Pan - 22
bake - September 2015 - Arandas Bakery
bake - September 2015 - Pan - 24
bake - September 2015 - Pan - 25
bake - September 2015 - Panadería Tierra Caliente
bake - September 2015 - Pan - 27
bake - September 2015 - Pan - 28
bake - September 2015 - Pan - 29
bake - September 2015 - La Michoacana
bake - September 2015 - PRODUCTOS DESTACADOS
bake - September 2015 - Pan - 32
bake - September 2015 - Pan - 33
bake - September 2015 - BREADS AND BAKING - Single Snacks
bake - September 2015 - Pan - 35
bake - September 2015 - CAKES AND DECORATING - Custom Cakes in High Demand
bake - September 2015 - Pan - 37
bake - September 2015 - The Quest to Add New Flavors
bake - September 2015 - Pan - 39
bake - September 2015 - MERCHANDISING SPOTLIGHT - Visual Merchandising
bake - September 2015 - SHOPPERS INSIGHT - Foodservice Power
bake - September 2015 - PROFILES - El Bolillo Bakery
bake - September 2015 - Pan - 43
bake - September 2015 - Pan - 44
bake - September 2015 - Arandas Bakery
bake - September 2015 - Pan - 46
bake - September 2015 - Pan - 47
bake - September 2015 - Panadería Tierra Caliente
bake - September 2015 - Pan - 49
bake - September 2015 - La Michoacana
bake - September 2015 - FEATURED PRODUCTS
bake - September 2015 - Pan - 52
https://digital.bakemag.com/sosland/bake/bake-september-october-2024
https://digital.bakemag.com/sosland/bake/bake-july-aug-2024
https://digital.bakemag.com/sosland/bake/bake-redbook-2024
https://digital.bakemag.com/sosland/bake/bake-may-june-2024
https://digital.bakemag.com/sosland/bake/bake-special-report-may-2024
https://digital.bakemag.com/sosland/bake/bake-march-april-2024
https://digital.bakemag.com/sosland/bake/bake-january-february-2024
https://digital.bakemag.com/sosland/bake/bake-special-report-november-2023
https://www.nxtbook.com/sosland/bake/bake-november-december-2023
https://digital.bakemag.com/sosland/bake/bake-september-october-2023
https://digital.bakemag.com/sosland/bake/bake-july-august-2023
https://digital.bakemag.com/sosland/bake/bake-special-report-july-2023
https://digital.bakemag.com/sosland/bake/bake-redbook-2023
https://digital.bakemag.com/sosland/bake/bake-special-report-may-2023
https://digital.bakemag.com/sosland/bake/bake-may-june-2023
https://digital.bakemag.com/sosland/bake/bake-march-april-2023
https://digital.bakemag.com/sosland/bake/bake-special-report-january-2023
https://digital.bakemag.com/sosland/bake/bake-january-february-2023
https://digital.bakemag.com/sosland/bake/bake-november-december-2022
https://digital.bakemag.com/sosland/bake/bake-special-report-november-2022
https://digital.bakemag.com/sosland/bake/bake-september-october-2022
https://digital.bakemag.com/sosland/bake/bake-special-report-july-2022
https://digital.bakemag.com/sosland/bake/bake-july-aug-2022
https://digital.bakemag.com/sosland/bake/bake-redbook-2022
https://digital.bakemag.com/sosland/bake/bake-special-report-may-2022
https://digital.bakemag.com/sosland/bake/bake-may-june-2022
https://digital.bakemag.com/sosland/bake/bake-march-april-2022
https://digital.bakemag.com/sosland/bake/bake-january-february-2022
https://digital.bakemag.com/sosland/bake/bake-special-report-january-2022
https://digital.bakemag.com/sosland/bake/bake-november-december-2021
https://digital.bakemag.com/sosland/bake/bake-special-report-november-2021
https://digital.bakemag.com/sosland/bake/bake-september-october-2021
https://digital.bakemag.com/sosland/bake/bake-july-august-2021
https://digital.bakemag.com/sosland/bake/bake-redbook-2021
https://digital.bakemag.com/sosland/bake/bake-july-2021
https://digital.bakemag.com/sosland/bake/bake-may-june-2021
https://digital.bakemag.com/sosland/bake/bake-special-report-may-june-2021
https://digital.bakemag.com/sosland/bake/bake-march-april-2021
https://digital.bakemag.com/sosland/bake/bake-january-february-2021
https://digital.bakemag.com/sosland/bake/2021_01_01
https://digital.bakemag.com/sosland/bake/2020_12_01
https://digital.bakemag.com/sosland/bake/2020_11_01
https://digital.bakemag.com/sosland/bake/2020_09_01
https://digital.bakemag.com/sosland/bake/2020_08_01
https://digital.bakemag.com/sosland/bake/2020_07_02
https://digital.bakemag.com/sosland/bake/2020_07_01
https://digital.bakemag.com/sosland/bake/2020_06_01
https://digital.bakemag.com/sosland/bake/2020_05_01
https://digital.bakemag.com/sosland/bake/2020_04_01
https://digital.bakemag.com/sosland/bake/2020_02_01
https://digital.bakemag.com/sosland/bake/2020_01_01
https://digital.bakemag.com/sosland/bake/2019_12_01
https://digital.bakemag.com/sosland/bake/2019_11_01
https://digital.bakemag.com/sosland/bake/2019_10_01
https://digital.bakemag.com/sosland/bake/2019_09_01
https://digital.bakemag.com/sosland/bake/2019_08_01
https://digital.bakemag.com/sosland/bake/2019_07_01
https://digital.bakemag.com/sosland/bake/2019_06_01
https://digital.bakemag.com/sosland/bake/2019_05_01
https://digital.bakemag.com/sosland/bake/2019_04_01
http://digital.bakemag.com/sosland/bake/2018_07_02
https://digital.bakemag.com/sosland/bake/2019_03_01
https://digital.bakemag.com/sosland/bake/2019_02_01
https://digital.bakemag.com/sosland/bake/2019_01_01
http://digital.bakemag.com/sosland/bake/2018_12_01
http://digital.bakemag.com/sosland/bake/2018_11_01
http://digital.bakemag.com/sosland/bake/2018_10_01
http://digital.bakemag.com/sosland/bake/2018_09_01
http://digital.bakemag.com/sosland/bake/2018_08_01
http://digital.bakemag.com/sosland/bake/2018_07_01
http://digital.bakemag.com/sosland/bake/2018_06_01
http://digital.bakemag.com/sosland/bake/2018_05_01
http://digital.bakemag.com/sosland/bake/2018_04_01
http://digital.bakemag.com/sosland/bake/2018_03_01
http://digital.bakemag.com/sosland/bake/2018_02_01
http://digital.bakemag.com/sosland/bake/2018_01_01
http://digital.bakemag.com/sosland/bake/2017_12_01
http://digital.bakemag.com/sosland/bake/2017_11_01
http://digital.bakemag.com/sosland/bake/2017_10_01
http://digital.bakemag.com/sosland/bake/2017_09_01
http://digital.bakemag.com/sosland/bake/2017_08_01
http://digital.bakemag.com/sosland/bake/2017_07_01
http://digital.bakemag.com/sosland/bake/2017_06_01
http://digital.bakemag.com/sosland/bake/2017_05_01
http://digital.bakemag.com/sosland/bake/2017_04_01
http://digital.bakemag.com/sosland/bake/2017_03_01
http://digital.bakemag.com/sosland/bake/2017_02_01
http://digital.bakemag.com/sosland/bake/2017_01_01
http://digital.bakemag.com/sosland/bake/2016_12_01
http://digital.bakemag.com/sosland/bake/2016_11_01
http://digital.bakemag.com/sosland/bake/2016_10_01
http://digital.bakemag.com/sosland/bake/2016_09_01
http://digital.bakemag.com/sosland/bake/2016_08_01
http://digital.bakemag.com/sosland/bake/2016_07_01
http://digital.bakemag.com/sosland/bake/2016_06_01
http://digital.bakemag.com/sosland/bake/2016_05_01
http://digital.bakemag.com/sosland/bake/2016_04_01
http://digital.bakemag.com/sosland/bake/2016_03_01
http://digital.bakemag.com/sosland/bake/2016_02_01
http://digital.bakemag.com/sosland/bake/2016_01_01
http://digital.bakemag.com/sosland/bake/2015_12_01
http://digital.bakemag.com/sosland/bake/2015_10_01
http://digital.bakemag.com/sosland/bake/2015_09_01
http://digital.bakemag.com/sosland/bake/2015_08_01
http://digital.bakemag.com/sosland/bake/2015_07_01
http://digital.bakemag.com/sosland/bake/2015_06_01
http://digital.bakemag.com/sosland/bake/2015_05_01
https://www.nxtbook.com/sosland/bake/2015_04_01
http://digital.bakemag.com/sosland/bake/2015_03_01
https://www.nxtbook.com/sosland/bake/2015_02_01
https://www.nxtbook.com/sosland/bake/2015_01_01
https://www.nxtbook.com/sosland/bake/2014_12_01
https://www.nxtbook.com/sosland/bake/2014_10_01
https://www.nxtbook.com/sosland/bake/2014_09_01
https://www.nxtbook.com/sosland/bake/2014_08_01
https://www.nxtbook.com/sosland/bake/2014_07_01
https://www.nxtbook.com/sosland/bake/2014_06_01
https://www.nxtbook.com/sosland/bake/2014_05_01
https://www.nxtbook.com/sosland/bake/2014_04_01
https://www.nxtbook.com/sosland/bake/2014_03_01
https://www.nxtbook.com/sosland/bake/2014_02_01
https://www.nxtbook.com/sosland/bake/2014_01_01
https://www.nxtbook.com/sosland/bake/2013_11_01
https://www.nxtbook.com/sosland/bake/2013_11_02
https://www.nxtbook.com/sosland/bake/2013_10_01
https://www.nxtbook.com/sosland/bake/2013_09_01
https://www.nxtbook.com/sosland/bake/2013_08_01
https://www.nxtbook.com/sosland/bake/2013_07_01
http://digital.bakemag.com/sosland/bake/2013_06_01
https://www.nxtbook.com/sosland/bake/2013_05_01
https://www.nxtbook.com/sosland/bake/2013_04_01
https://www.nxtbook.com/sosland/bake/2013_03_01
https://www.nxtbook.com/sosland/bake/2013_02_01
https://www.nxtbook.com/sosland/bake/2013_01_01
https://www.nxtbook.com/sosland/bake/2012_11_01
https://www.nxtbook.com/sosland/bake/2012_10_01
https://www.nxtbook.com/sosland/bake/2012_09_01
https://www.nxtbook.com/sosland/bake/2012_08_01
https://www.nxtbook.com/sosland/bake/2012_07_01
https://www.nxtbook.com/sosland/bake/2012_06_01
https://www.nxtbook.com/sosland/bake/2012_05_01
https://www.nxtbook.com/sosland/bake/2012_04_01
https://www.nxtbook.com/sosland/bake/2012_03_01
https://www.nxtbook.com/sosland/bake/2012_02_01
https://www.nxtbook.com/sosland/bake/2012_01_01
https://www.nxtbookmedia.com