Enjoy tax benefits and a proven tool for recruiting and retaining top talent.

Enjoy the many benefits of a 401(k) plan

A 401(k) retirement plan gives your employees (and you!) an automatic way to prepare for the future by contributing pre-tax income to a retirement account through payroll deduction.

Savings are usually tax-free until withdrawal
Get a business owner tax credit for opening a NEW plan
Make tax-deductible matching contributions if you’d like

Mylo and our expert partner Ubiquity Retirement + Savings can help you boost employee loyalty – and do your own retirement a favor too.

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Fast facts about 401(k) plans

How does a 401(k) plan work?

An employee chooses how much of their pre-tax pay (up to an annual limit) to automatically deposit through payroll deduct into a retirement account – and how these dollars will be invested. Usually, savings are tax-free until withdrawal. Withdrawals can be made as early as age 55, and minimum distributions must be taken at 72.

How do I benefit as a business owner?

Offering a 401(k) is a proven way to attract and retain top employees. You also receive tax deductions for starting a new a plan and a tax deduction for your plan expenses. Plus, you can contribute to your own retirement through your company 401(k).

How do my employees benefit?

Employees gain an automatic way to look out for their future by contributing a chosen amount of their pre-tax pay (up to an annual limit) to a retirement account each pay period – and usually don’t pay taxes on it until withdrawal. Many employers boost their employees’ savings with matching contributions.

Do I have to make matching contributions?

No, an employee match or profit sharing contribution is entirely optional. But if you choose to make one, your company’s contributions are tax-deductible.

If I don’t have employees, can I get the benefits of a 401(k) plan?

Yes. A Single(k) Plus plan through Mylo’s partner Ubiquity Retirement + Savings lets self-employed individuals and sole proprietors save up to $58,000 a year by making pre-tax contributions or Roth Plan contributions (which are taxed now, making most withdrawals tax free) to a retirement account. And, if needed, you can take out a loan from these savings.

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Mylo was awesome.I really felt like my agent worked to understand my situation and find the best solution for my unique business needs. Excellent customer service!!!

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Mylo has excellent customer service. I admired my agent's knowledge and efficiency. I am truly grateful that I had the pleasure of working with Mylo and look forward to coming to them with all of my business's needs.

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