The SurePayroll Small Business Scorecard®: Most Still Struggle to Offer, See Value in 401(k)s
Thirty-five percent of those not offering a plan said the fees are too expensive, and 23% said they don't know how to manage a 401(k).
The small business owners that do offer a 401(k) said they do so to build retirement savings for themselves and their employees, with just 5% saying they offer it to attract new employees and 6% saying they offer it for tax breaks.
In total, 28% are offering a plan and another 6% plan to add one soon, the Scorecard survey found.
"There needs to be more education for small business owners about the tax benefits and the long-term growth potential of investing in a 401(k) plan," said
The deadline for setting up a Safe Harbor 401(k), which offers small business owners a simplified way to manage a 401(k) plan, is
How do small business owners plan to save for retirement? Find out on the SurePayroll Blog.
About
About
Contact: |
|
847-676-8420 x7173 |
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/the-surepayroll-small-business-scorecard-most-still-struggle-to-offer-see-value-in-401ks-300323398.html
SOURCE
Radio Personality and Camp Sunshine Founder Added to the Duckprints Wall of Fame for Fighting Against Childhood Cancer
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News