Retirement plans are an important element of any employer’s benefits package. In a recent Glassdoor survey, 79% of employees said they would prefer new or additional benefits over a pay increase. The survey also revealed that 401(k) plans, retirement plans, and/or pensions were valued higher than features like a flexible schedule (working from home) or tuition reimbursement. Retirement plans offer several benefits to you, your company, and your employees.
- Attract qualified and quality employees to your company.
- Shows current employees that your business cares about their financial and personal well-being. Retirement plans encourage loyalty and productivity when employees know you are invested in them.
- The matching contribution your business makes (at acceptable limits) are tax-deductible and it’s more retirement savings for your employees. A win-win situation.
- Different plan options (automatic enrollment, pre-tax, post-tax, etc.) give employees more freedom to decide how their money is handled.
- They open the door to educating employees about retirement planning, investing, and other important financial concepts.
Qualified Plan Advisors consulting services are designed to provide a specialized approach to meet each Plan Sponsor’s individual needs. Click here to get connected with one of our team members today.