Should Your Company Finally Offer a Retirement Plan?

It’s OK—you’re far from alone—47% of small to midsize businesses don’t offer a retirement plan, and you have reasons for being one of those. You have more to do than run a retirement plan and don’t want to spend your time administering a plan or picking investment options. And, given your company’s size, you think the costs of offering a plan outweigh any tax, recruiting, employee retention or other benefits you might get in return.

New legal changes may make you rethink your decision. First, there are new tax incentives for offering a retirement plan. Second, there are new ways for employers to take advantage of professional plan administration and the economies of scale that had been available only to larger employers. Third, states may soon require employers to offer a plan or participate in a state-run scheme.

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