Business Opportunities Weblog

Small Biz Employees Wanna Retire, Too

By on December 6, 2011 in News

Often entrepreneurs forget to set aside for their own retirement funds. However, our employees may want a retirement fund, and it is important for us to listen to their needs. A recent survey showed that only 10% of small businesses offer some type of retirement plan.

The Harris Poll of 501 small business owners indicates only 11 percent say they are likely to add an employee sponsored 401(k) plan within the next two years, 69 percent say they won’t because their business is too small, and more than half say it would be too expensive.

Thirty-seven percent of small business owners with more than six employees say they are under pressure from employees to offer a retirement plan, and 78 percent of that group say having a retirement plan is effective in helping to attract qualified employees.

Photo by Kristina Zuidema

employees retirement small biz

Angela Shupe has added 5,783 posts to Business Opportunities Weblog.

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  • http://www.facebook.com/pages/Amir-Rivers-First-Financial-Security-Inc/270150759703866?sk=wall Amir Rivers

    There are solutions for small businesses facing this problem. Often, small business gets overlooked by broker-dealers for retirement services because they are simply just “too small”. However, there are companies like my own, that specialize in providing solutions to this market void.

    Just fyi… but 401k’s are NOT a Retirement Solution! 401k’s were a good way for wealthy individuals to defer paying tax on (at the time) higher tax rates. Currently, we are already at low tax rates, so why in the world would anyone continue deferring taxes when we know taxes will be increasing in the future? Uncle Sam needs to begin fixing their “debt crisis” soon or later. It’s reasonable to think that eventually taxes will go up.

    If your interested in hearing more tips, email me at amir.rivers@gmail.com.

    -Amir R.

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