When It Comes to Retirement Plans, One Size Does Not Fit All
When it comes to retirement plans, one size does not fit all businesses. Just like consumers make decisions based on their immediate needs and desires, employers also want the optimal combination of utility and price of goods within their budgets when choosing a retirement plan.
There are approximately 30 million incorporated small businesses in the U.S., and only about 560,000 businesses sponsored 401(k) plans as of 2016.
401(k) plans are powerful tools that help millions of employees work toward retirement security, but they don’t meet the needs of all businesses. Not all businesses need or can afford a 401(k) plan, but maybe down the road, it may become the right choice.
The retirement industry has the infrastructure and building blocks to deliver innovative retirement savings solutions to more employers and, as a result, improve retirement readiness for more employees.
Learn more by reading “One 401k Size DOES NOT Fit All” at 401kSpecialistmag.com.
The material in this blog is presented for informational purposes only. Millennium Trust Company performs the duties of a directed custodian, and as such does not sell investments or provide investment, legal or tax advice.