Our daily roundup of retirement news your clients may be thinking about.
Think a 401(k) is not a sexy benefit? Competition may change that Data from the Government Accountability Office show that only about 14% of small businesses offer employer-provided plans to their workers, according to this article on The New York Times. However, more small businesses are now looking at providing such a plan to their employees, as they get motivated by technological advances, an expense war among mutual fund companies, and innovative plan offerings from the industry. Companies also feel the need to offer attractive compensation benefits, including retirement plans, to lure and retain competent, long-term workers. “I know that investing can be daunting at first. This gave them an extremely easy method of investing into their future,” says a small business owner.
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