A qualified retirement plan has become increasingly important to employees as they seek out job opportunities that provide more than just a steady paycheck. This trend is why offering a comprehensive group retirement plan can be a great way to stand out from other companies in your industry. Not only does it help attract the best available employees, it helps ensure they stay on as loyal and motivated team members for many years to come.
An employer-sponsored retirement plan, especially one that includes profit sharing, is one of the best ways to sweeten the deal when it comes to improving your overall compensation package. A qualified 401(k), group pension or retirement savings plan allows you to leverage your position as a forward-thinking company that attracts and retains the best available employees.
Are you curious about an affordable, flexible retirement plan for your business or employee group? Call us at the number at the top of the page or get a FREE, no-obligation estimate by using our online form to the top right!
There are many reasons why a company may choose to offer a retirement or group savings plan, many of which are specific the their industry or company size. However, there are two ways that a retirement plan benefits both business owners and employees: retirement plan tax breaks and employee profit sharing.
Tax Breaks – The recent buzz about employee benefits has been mostly focused on the incentives for businesses to provide health care, but there are plenty of reasons to offer a good retirement plan too. Mainly, there are direct tax incentives that help motivate your employees to save for the future, while minimizing the operating costs to your business. If you’d like to know more about the employer benefits of providing a group retirement option, this article from BizFilings.com has more information.
Profit Sharing – If you choose to offer a profit sharing option, you give your employees a great way to save even more for their retirement, as well as supplement your own savings. It also allows your employees to share in the successes of your company, creating a culture that’s centered around the overall health of your business.
To learn more about how profit sharing can be an effective tool for small businesses, this resource from the Department of Labor covers everything from how to get started to managing fiduciary responsibilities.
We’re ready to help! Call today: 800-903-6066