Small and medium sized businesses ( 1 – 100 employees) face unique challenges with retirement plans. Those challenges usually result in one of two scenarios. Either you have no retirement plan in place for your employees or the plan you do offer is woefully inadequate for what your business needs.
If you choose not to offer a retirement plan, both you, your employees and your business can be adversely impacted. If you do offer a plan, you find yourself facing an onslaught of financial, administrative and regulatory hurdles not to mention dealing with unhappy employees. Whether you have 1 employee or 100, the challenges don’t change, just the number of people impacted by them.
Your Company Has a Retirement Plan
- Fees are too high
- Investment options are lacking
- No Roth savings option
- No communication from the advisor
- Too few participants
- Enrollment meetings offer no value
- Constantly field questions from employees
Your Currently Offers No Retirement Plan
- Worried about cost to set up and administer a retirement plan
- Worried about cost to set up and administer a retirement plan
- Worried about the cost of employer contributions
- Don’t know where to start or who to call
- Employees don’t seem interested
- No time to research and learn about