The best small businesses offer retirement plans to their employees. 401ks, 403bs, SIMPLE IRAs, and SEP IRAs, etc. can be extremely beneficial to the overall success of a company! There is, of course, no requirement for small business owners to offer an employer-sponsored retirement plan, but the businesses that do can benefit in three meaningful ways.
First, retirement plans can bring tax deductions and breaks to both the company and the employees. Small business plans, whether they’re 401k, 403b, or another, create significant tax deductions for the company for contributions, plan expenses, newness, and size. The employees also enjoy tax breaks as their contributions are typically made pre-tax to the plan.
Second, retirement plans are valued highly by current and future employees. Any great small business owner can tell you that his/her employees are one of the company’s greatest assets. Recruiting and retaining these individuals should always be a high priority. Prioritizing their retirement shows employees that they are valued by the company.
Finally, once in place and with the help and guidance of a qualified retirement plan advisor, retirement plans typically run very smoothly. Thus, a small business can focus on its core competence and not the company retirement plan. Duncan Williams Asset Management provides the beneficial service of consulting and advising on retirement plans for small businesses.
Duncan Williams Asset Management offers consulting services to clients on retirement plans, 401ks, 403bs, SIMPLEs, SEPs, etc. With no minimum account size and a focus on service and low cost, Duncan Williams Asset Management is uniquely positioned to serve as plan advisor to the small business community of the city of Memphis and the greater Mid-South area. We are passionate about helping small businesses invest and keeping them well educated about their unique retirement account needs.
Having a retirement plan combined with a retirement plan advisor is a winning combination for any small business.