According to a May 2022 report from the Center for Retirement Research at Boston College, only 48% of small businesses with fewer than 50 employees offer a retirement plan. Not only does this disparity contribute to the retirement savings gap, but retirement benefits are increasingly seen as desirable by employees, meaning small businesses are missing […]Read More Small Business Accountants: Should You Talk to Clients About a Retirement Savings Plan?
A quarter of adults in the U.S. don’t have retirement savings. One reason? Not all employees have access to an employer-sponsored retirement program. Seeing this looming crisis, Illinois launched the Secure Choice Retirement Savings Program (Illinois Secure Choice).Read More Does Illinois Secure Choice Affect Your Small Business?
Here’s a shocking stat: More than 600,000 private-sector employees in Connecticut don’t have an employer-sponsored retirement savings plan. To encourage more employees in the state to save for retirement, Connecticut launched the MyCTSavings Retirement Program (MyCTSavings).Read More Connecticut Employers, How Much Do You Know About MyCTSavings?
In the United States, the most common type of retirement plan is the trusty 401(k). With over 60 million active participants and an estimated $7.3 trillion in assets, businesses of all sizes offer this type of plan to help their employees save for the retirement they deserve.Read More Safe Harbor 401(k) Plan: How to Maximize Your Small Business’s Savings
In 2019, the state of California put in place the CalSavers Retirement Savings Program, with the goal of enabling California residents to save for retirement.Read More CalSavers & Your Small Business: You May Be Required to Offer a Retirement Program