(ALM | Benefits Pro) - An increasing number of businesses will be starting retirement plans in the wake of the SECURE 2.0 - and tax credits will help small business employers offer them, according to new research.
Misperceptions around cost and company size requirements could play a role in the disparity among small and large companies offering retirement savings plans to their employees, according to new research from Capital Group.
The firm found only 28% of businesses with less than 10 employees offer retirement plans and only 51% of businesses with 10-24 employees offer them. According to the firm’s research, many companies that do not offer a retirement plan may be unaware of their employees’ strong desire to have one.
By Kristen Beckman
June 26, 2023
