As a business owner, there are many different retirement plan options available to you, regardless of your type of business, the number of employees or the number of years you have been in business. Here is a quick summary of the types of plans that are available, depending on your goals and objectives.
Knowing what’s out there, and deciding to move forward and sponsor a plan, are two different things! If pension plans are in the news, it’s generally a story about big business yanking away the hard-earned retirement funds from employees, or companies that are ‘selling’ their pension plans to insurance companies. With these kinds of stories, why on earth would you want a pension plan for your employees?
An employer-sponsored retirement plan can be an extremely valuable tool for business owners for several reasons, and can offer many benefits to your employees as well. Here are some of the top benefits of a pension plan, and why you may want to sponsor one.