The business advantage of a retirement plan
Land and Keep Top Talent
In today’s competitive job market, a retirement plan offers you the ability to compete for – and keep – the best and the brightest. Considered essential by top talent, a retirement plan is both expected and ranked as an important factor when evaluating a job offer.²
Increase Employee Wellness and Productivity
Studies show that finances are the top cause of employee stress, impacting their ability to perform and be productive.⁹ Helping employees manage and maintain their finances has become a priority for many businesses.¹⁰
There is a “direct correlation between an employee’s financial well-being and a company’s bottom line.” ¹²
There is a “clear relationship between employee’s financial worries and their work performance.” ¹⁴
Potentially Help Decrease Business Taxes
Opening a retirement plan can help optimize tax efficiencies for your business and reduce taxes for both you and your employees through:
Tax deductions to the business for employer contributions
Reduced personal taxes for both employers and employees for tax-deferred contributions
Tax credits on select plans
Write-offs for certain administration costs
The costs and resources required to manage a retirement plan can be offset with savings in employee turnover, increased productivity and tax efficiencies.
The costs and resources required to manage a retirement plan can be offset with savings in employee turnover, increased productivity and tax efficiencies. With viable solutions for businesses of every size, the time to enhance your organization with retirement benefits has never been better.
401(K) Retirement Plan Exchange
There are dozens of responsibilities plan sponsors must take on when offering a 401(K) to their employees. With Excelerate America’s Retirement Plan Exchange, virtually all of the administrative burden is removed.
The plan is built on a pooled pricing model and often costs less than other programs offering fewer comprehensive solutions. The plan cost is negotiated on a larger, cumulative asset pool so feels drop as the plan grows.
To learn more about Excelerate America’s fiduciary-plus 401(k) Retirement Plan Exchange, please contact Esther Wickersham at email@example.com.
¹ https://www.salesforce.com/content/dam/web/en_us/www/documents/reports/smb/fourth-edition-small-medium-business-trends-report.pdf 2 https://www.betterment.com/uploads/2020/05/2019-07-26-B4B-Customer-Survey-Report.pdf
⁵ https://www2.deloitte.com/content/dam/Deloitte/us/Documents/human-capital/us-2019-defined-contribution-benchmarking.pdf 6 https://www.gallup.com/workplace/247391/fixable-problem-costs-businesses-trillion.aspx
⁹ https://www.pwc.com/us/en/services/consulting/workforce-of-the-future/library/employee-financial-wellness-survey.html 10 https://www.willistowerswatson.com/en-CA/Insights/2020/02/global-benefits-attitudes-survey-report
¹¹ https://s3.amazonaws.com/cfsi-innovation-files-2018/wp-content/uploads/2019/05/24163214/FHN-MorganStanley-Infographic-FINAL.pdf 12 https://cdn2.hubspot.net/hubfs/172936/pwc-financial-stress-and-bottom-line.pdf
¹³ https://www2.deloitte.com/content/dam/Deloitte/us/Documents/human-capital/us-2019-defined-contribution-benchmarking.pdf 14 https://www.willistowerswatson.com/en-US/Insights/2018/12/employee-financial-wellbeing-the-impact-of-employee-financial-health-at-work
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