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.


To read the full article in PLANSPONSOR, click here.

Recent Posts

See All

SECURE Act – Impact on 401(k) Plan Sponsors

The Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”), the largest package of retirement system reforms in over a decade, was enacted on December 20, 2019.  Many of

Church Plans Under the SECURE Act

Many of the provisions of the Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”) do not apply to non-electing church plans, but some do, notably those dealing with ce

Lifetime Income Provisions Under the SECURE Act

The SECURE Act, which includes three major lifetime income-related provisions, represents a giant step forward on the part of Congress to not only reduce some of the barriers that have traditionally d

Groom Law Group, Chartered

1701 Pennsylvania Avenue, N.W.
Washington, D.C. 20006

p: 202-857-0620

f: 202-659-4503

Follow us on

  • LinkedIn Social Icon

©2020 by Groom Law Group, Chartered. The information contained within is for informational purposes only and does not constitute legal advice. 

Disclaimer