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Leading Retirement Solutions is participating in America Saves Week 2017, a week dedicated to promoting good savings behavior and giving individuals a chance to assess their own saving status.

The theme for March 1st, 2017 is “Save Automatically”, and we are continuing America Saves Week by providing you with the top reasons why you should offer your employees a 401(k) Plan:

Competition

To be competitive in hiring in their industry, many companies offer retirement plans, and a 401(k) Plan is the most basic plan that almost any company is expected to offer. These companies span industries such as:

  • Technology
  • Professional Services
  • Manufacturing
  • Trades
  • Travel
  • Transportation

A company offering a 401(k) Plan speaks to the company’s attitude toward their employees. This is a sought-after benefit for hiring employees, and it typically speaks to the stability and profitability of the company.

Savings

A workplace retirement savings plan, such as a 401(k) plan, is the primary retirement savings vehicle for many working class and professionals. It is the cornerstone of a full benefits package for employees.

The 2016 annual America Saves Week survey assessing national household savings revealed that only 52% are saving enough for a desirable standard of living in retirement, and therefore employees are looking for an easy-to-manage savings vehicle.

A 401(k) plan offers lower fees and more closely monitored investments than many IRA accounts and is, therefore, a benefit for employees.

Read also: 401(k) Plans vs. IRAs: What’s the Difference?

Company Image

401(k) Plans are a sought-after benefit for those looking for employment, and they typically speak to the stability and profitability of the company offering them. Candidates are typically looking for a 401(k) Plan that offers a matching contribution from their employer.

A 401(k) Plan is a great opportunity to highlight your employees’ ability to save by encouraging them to contribute to their plan. 

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