Critics of the new tax law believed that the reduction of corporate rates wouldn't actually benefit those of the working classes. The early returns on the new bill indicate they were wrong. Corporations are lining up to share the benefits of the new bill with their employees, according to this article in the Washington Examiner. The list of companies offering increased participation in retirement programs, wage increases, and bonuses is long and staggering. They include Alaska Airlines, American Airlines, American Bank, Aquesta Financial, Delaware Supermarkets, JetBlue, Jordan Winery, Nationwide Insurance, Flood Insurance, Turning Point Brands, and many, many more. Some of these companies have announced increased charitable giving as well. Also mentioned is that participation in 401(k) programs is on the rise.
Retirement Services & Financial Advisors - Serving Columbus & Beyond
If you are considering a 401k plan for your business, or you are already in the process of getting one started, then you are already ahead of many small businesses. However, as you begin the process of providing for the future financial security of you and your employees, you should take a moment to consider consulting a retirement plan advisor to help you establish and maintain your company's 401k. While many business owners may be tempted to oversee their company's 401k alone, there are many benefits to bringing in outside help. Here are just a few of the reasons to hire an advisor for your company's 401k plan.
401k Advisors 401k Administrator 401k for Small Business 401k for Small Business Owners 401k plan administrator retirement plans for small business best 401k providers Small Business Retirement Plans 401k plan providers
Employees like 401k retirement plans, so much so that they represent the kind of benefit which can help small business owners attract new workers. That said, more than 70% of small businesses don't offer these plans. Why are these plans so popular, and why are so many small companies reticent to offer them?
With people living longer than they used to, it is more important than ever that people start saving for retirement as early as possible. However, many people who work at small businesses do not have access to a 401k plan, as only 15% of businesses with 100 employees or less offer their employees retirement plans, and only 50% of Americans overall have access to a workplace retirement plan. Generally, small business owners do not want to offer a 401k plan due to the time and money they would have to invest to offer these benefits. While this is a valid concern, the fact is that the pros outweigh the cons of offering your employees a 401k plan. Here are just a few of the benefits you could gain by offering a 401k plan to your employees.