There are other business reasons in favor of qualified retirement plan sponsorship that are not financially-related, but nonetheless important. They include:
- Taking care of the owner's retirement income needs.
The variety of plans available to businessowners means that they have multiple options when it comes to building a plan that best suits their needs and preferences.
- Attracting and retaining quality employees.
American workers have come to expect their employers to provide a retirement plan as part of their benefits package. Employers who hope to attract and retain highly qualified employees have to think the same way.
- Having content employees.
Any successful businessowner would agree that content employees make good employees, and sponsoring a retirement plan is one important way to help make employees feel appreciated. As explained in Section I, most Americans are aware of the need to save for retirement, and recognize employer-sponsored retirement plans as one of the most effective ways to do so.
