Should I offer retirement benefits for my employees?
You invest in your employees by providing a salary, vacation time and insurance benefits. But what about helping them save for retirement? Your employees spend 40 hours a week, or more, helping to build your company. One great way to show how much you value them is through a retirement savings plan.
Benefit Your Employees, Benefit Your Company
Providing retirement options for your employees will not only benefit them, but your company as well. Employees may be more motivated to work diligently for the company with the incentive of saving toward their retirement. It’s also true that when your employees are valued and appreciated, they will be more likely to stay with the company and attract new talent.
Retirement benefits for your employees also have the potential to lower your tax bill. Employer contributions to retirement plans are typically tax deductible, and a qualified retirement plan may make you eligible for a tax credit.
By partnering with your company, group annuities provide retirement benefits like periodic payments when an employee reaches retirement. These retirement services are designed to help employees plan for the future by saving money now. This can be done through a variety of ways, including savings plans and group annuities. As the business owner, you can determine which retirement benefits can help set you and your employees up for success in the future.
Mutual of Omaha Investor Services, Inc. and its representatives do not provide tax or legal advice; therefore, it is important to coordinate with your tax or legal advisor regarding your specific situation.