Memorial Day is coming quickly so I’m waxing nostalgic about the sacrifice that so many men and women of our armed forces have made for us to live the lifestyle that we do. My father was in the Air Force during the Korean conflict, and my uncle fought in Vietnam. I’m thankful that they both returned, because I know that many did not.
One of the tenets of American life for which they served is that while we look out for our neighbors in times of need, we take personal responsibility for our well being. We value work. Most of us would rather earn our own way than take charity.
I had several different jobs before I started a company designed around retirement. I stopped looking for a career at that time, because Benefit Resources was my new home. I loved the idea that when we would help companies start a retirement plan that we were helping the company, the business owner and the employees. I felt honorable for charging a fee for our service rather than riding the tide of the stock market ups and downs. Now 30 years later, we have helped over 700 companies start a retirement plan, and provided the opportunity for tens of thousands of individuals take personal responsibility for their future.
Retirement plans are a very inexpensive employee benefit, and one of the most valuable things a company can to for its employees. Every time a company starts a retirement plan the benefits provide a ripple effect. Usually a business owner will research something like, "Retirement Plan Set up for Business Owners" and that search leads them to something that benefits the whole company - financial security of the employees, morale, and of course financial security for the business owner.
- Vision. When a business owner decides to start a retirement plan for his company it may be because he has the vision that while he is building an asset by building his company, he would also benefit from the diversification of the alternative investments in qualified retirement plan.
- Protection. Funds held by the plan are protected from both personal and corporate creditors.
- Tax savings. Contributions to a retirement plan are not taxed when deposited, and grow tax deferred. Diversification to the taxation of the retirement account is also available if a Roth feature is provided. Individuals may choose to make after-tax Roth contributions to a 401(k) plan. Roth accounts also grow tax deferred, and upon qualified withdrawal none of the Roth account taxed.
- The 4 Rs. Investment custodians make top-of-the-line features available to business of all sizes that start a retirement plan. So any size business can have a retirement account that rivals its larger competitors. Having top-quality benefits will allow your company to
- Recruit top candidates
- Retain your best employees
- Reward employees through matching, profit sharing or pension contributions
- Retire employees when its time
- Click here if you would like for Benefit Resources to get a services and cost proposal to see how affordable and beneficial a plan can be for your company. Start a Retirement Plan now!
Statistics show that most individuals will save little or nothing for their future without the convenience of a payroll deduction retirement plan. An employee is much more likely to participate in the company retirement plan than to start a retirement account, like an IRA, for herself.
Just as you want your children to have every advantage growing up, a business owner should give his or her employees the opportunity to save for their future. Read our blog on the importance of employee enrollment.
KEEP THE PRIVATE PENSION SYSTEM ALIVE IN AMERICA
The government heavily regulates the retirement system that we have in place now. But it is still a private pension system. Government-run retirement is called Social Security. If business owners don’t start a retirement plan for their own companies, and if employees don’t take advantage of the plans that are made available to them, then we run the risk that our workers will not be able to retire because they don’t have the resources to do so. If our private pension system fails, we could face a takeover of the private pension system. It’s up to us.
Just like our veterans fought for our lifestyle, we must all fight to keep the American pension system private. If you don’t have one for your company, start a retirement plan-NOW! We have developed special Start Now pricing for companies with fewer than 25 employees. Click here to request a call from one of our retirement specialists so that you can start your retirement plan NOW!
You might also like:
The Complete Guide to Choosing, Setting Up & Maintaining A Company Retirement Plan
Best retirement plans for small business owners
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