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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.

  1.  Attract qualified and quality employees to your company.
  2. 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.
  3. 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.
  4. Different plan options (automatic enrollment, pre-tax, post-tax, etc.) give employees more freedom to decide how their money is handled.
  5. 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.

 

Matthew Eickman
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