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 a lot of ways to build 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 a sure way to 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.
