In the past, practice owners may have felt a 401(k) was too costly or complex for small veterinary clinics to provide, but that's no longer the case. With the modern 401(k), you don't need to worry about having extensive investment knowledge, or even a lot of time to manage the plan. You'll get access to features that can make it both easier and less expensive for both you and your employees.

How a modern 401(k) can help your practice

According to a recent survey by Capital One, 94 percent of small business owners who offer a 401(k) plan say it helps with their recruitment and retention of employees. By providing this benefit, you show you value their contribution and want to help them invest in their future.

Setting up a 401(k) can sound daunting, but it doesn't have to be. Here's what you can get with today's small business 401(k):

Low cost and transparent fees