Retirement Programs for small businesses: Free to the employer
What if I want to offer an employer-sponsored retirement program but don't want to contribute?
There may be a number of reasons why you want to offer employee retirement accounts but don’t want to contribute.
You may be a small business with little to no budget for this expense
You may already contribute to insurance or other benefits for employees and can’t add on another bill
You may simply want to offer a retirement program but don’t want to be obligated to contribute
Alternative to a 401(k)
At Apex Benefit Group, we offer alternative retirement plans that may better suit your needs as a small business owner and as your business grows. Attract prospective employees, and retain those currently employed. Implement a retirement plan for your employees now through Apex Benefit Group (free to you), and watch your business grow. The retirement account can be implemented as a voluntary option for employees with no risk to the employer.
3 reasons you may want to implement a no-risk retirement program at your company:
1. NO COST TO EMPLOYER
No setup costs
No administrative fees
Secure investment (employees will never lose a penny)
2. NO PARTICIPATION REQUIREMENTS
No minimum participation, no matter how small or large of a company
Completely voluntary - individuals decide if they want to participate
No ERISA requirements
Year-round enrollment available
3. NO EMPLOYER LIABILITY
Employees choose their own investment options
Individual/employee-owned accounts
According to new legislation in many states, small business owners who do not have an employer-sponsored retirement plan must provide one. This can be adopted from their state or an alternative workplace arrangement plan can be adopted if that better suits the needs of the employer and employees. In an environment that is equally challenging to attract and retain high-quality talent, a small business owner’s choice to offer an employee-focused retirement plan may be a prospective employee’s deciding factor.
Choosing to work with Apex Benefit Group to implement a retirement program at your company may be a wise decision for you to attract and retain employees and watch your business grow, at no cost to you.
This information is intended for information purposes only. Any reader understands that Apex Benefit Group is not providing legal advice, tax advice, or professional services. This article serves to offer practical information regarding the subject matter and is not a comprehensive resource.
If you would like to discuss your retirement options with a specialist, please contact us today.
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Each type of annuity has its own features and benefits, and understanding the differences is crucial in making informed decisions tailored to individual financial goals and risk tolerance levels.