Get essentially the most out of your retirement provision – for you and your staff
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Let’s face reality – we all need to save for retirement! For 2021 is the average social security benefit is just over $ 1,500 per month, which means most Americans need additional savings to keep up with their lifestyles. Unfortunately, too many people who retire do not have a financial gap, forcing them to work past normal retirement age or take the risk of living below the federal poverty line.
One more reason why employer-financed retirement provision is one of the most valuable and sought-after benefits for employees. A 401 (k) can help recruit skilled employees and increase employee satisfaction and retention. But simply offering a plan is only the first step. To offer a successful plan, here are some things every business should be aware of: