Many small businesses in America are looking to hire high-quality talent as they resume business at 100% after the COVID-19 Pandemic. In order to be competitive at a time where the difficulty of finding and retaining employees is at an all-time high, many small businesses are thinking about increasing their benefits packages – including retirement benefits. As with all financial and business decisions, the type of retirement benefit plan that will provide you with the greatest advantage is dependent upon your long-term goals and the specific situation you find your business in right now. There are several types of plans to choose from. Some of the most common are listed below:
Common Retirement Plan Options
As with any significant change in your business, you want to reach out to your business consultant and accountant and make sure that you are making the best and most informed decision. You also want to make sure that you understand the costs and compliance requirements before you commit to a retirement plan. Retirement plans are highly customizable, and we have resources to ensure your plan is fit to your specific needs.
Treya Tindal, CPA
Treya is a member of our assurance team. She has unique knowledge in the arena of EBPs including retirement plans because she recently passed an exam to earn an Intermediate Employee Benefit Plan Certificate from the AICPA.