ASA Central Network

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  • 1.  401k Plan

    2020 Staffing World Attendee
    Posted 19 days ago
    Good afternoon!  We are redoing our 401k plan and I'm wondering how other staffing firms have structured their plans.  Do you include temporary associates, or have it designed to include internal staff only?  Would appreciate any feedback/thoughts on this.  Thank you!

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    Mary Pat Busher CSP
    VP of Human Resources
    Celerity Staffing Solutions
    Middleton WI
    608-238-3410
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  • 2.  RE: 401k Plan

    2020 Staffing World Attendee
    Posted 19 days ago
    We included our temporary staff years ago and have seen very little participation.  We thought it was going to be a great recruiting tool, but it has fallen short. 
    Good luck
    Susie

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    Susan Dietrich
    President
    AllTek Staffing Inc.
    Pittsburgh PA
    (412) 701-9001
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  • 3.  RE: 401k Plan

    Posted 17 days ago

    We also have not seen much traction with our plan.

     

    Premier Staffing Source, Inc.

    Myrna Cooks
    President & Chief Executive Officer

    p: 301.306.0774 | f: (866) 723-1338 | toll-free: 866.782.4674
    e: mcooks@premierstaffingsource.com

    Premier Staffing Source, Inc.
    4640 Forbes Blvd · Suite 200A · Lanham, MD 20706 · Register with us today!

     

     




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  • 4.  RE: 401k Plan

    Posted 19 days ago
    Same as Susan, we included our temporary associates however have had very little participation.  We did elongate our eligibility qualifiers so it doesn't capture the majority of our associate pool...however we did this to ensure we would not have any discrimination issues between corporate vs contract offerings.  We are a smaller company - so corporate census alone was not large enough to substantiate a plan.

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    Chanel Daehn, CSP
    Chair - Texas Council
    Choice Staffing, CEO
    San Antonio TX
    (210) 805-0800
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  • 5.  RE: 401k Plan

    Posted 15 days ago

    To get participation in 401(l) plans, even with "permanent" staff, you have to make decent matching contributions and aggressively sell the plan. Bob Snelling was a champion in both ways. Driven by a strong belief in family, he set up a 100% contribution match and personally toured the country explaining and selling the habit of retirement savings to young employees who were otherwise ignoring the future. I remember staff members who were so proud that their 401(k) account balances had exceeded their annual salaries.

    The 100% match might seem expensive in connection with temporary employees, but participation rules and vesting forfeitures can offset much of the net cost.



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    George Reardon
    Principal
    George Reardon, Attorney & Counselor at Law
    Houston TX
    (281) 888-6641
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  • 6.  RE: 401k Plan

    Posted 18 days ago
    We offer to our temps as well, however they have to wait 1 year before they can participate, which weeds most of them out.

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    Keith Fiscus
    Founder & CEO
    Innovative Career Resources & Staffing
    Huntington Beach, CA 92648
    714-508-8620
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