Even as large employers embrace cutting edge features in their retirement plans, LIMRA data shows small businesses continue to struggle when it comes to offering even basic retirement benefits.
To provide the benefits, the company partnered with technology-focused organizations.
But 55% decided to take no action.
The firm has revamped its Aviator 401(k) program, now adding simplified investment lineups, affordable pricing, and fiduciary support services to its offerings.
Significant transformation is happening in the small business retirement plan market; what does this mean for the fiduciary adviser community?
Employees of small businesses with retirement plans that include automatic enrollment have far higher participation rates across all demographic variables, according to new data shared by Vanguard.
The net result of the Tax Cuts and Jobs Act is that many clients will have a lower effective tax rate, and this can have a direct impact on small pass-through business owners’ decisions about running retirement plans.