Small business retirement plans

Chen, Anqi. “Small business retirement plans”. Special report, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, October 2023. http://hdl.handle.net/2345/bc-ir:109814.
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Abstract

The report's key findings are: (1) Our 2023 Small Business Retirement Survey provides an in-depth look at why small firms do or do not offer a retirement savings plan. (2) Firms that believe retirement plans help with hiring and retention are much more likely to offer a plan now or in the near future. (3) The main barriers to offering a plan are concerns about the stability/size of the firm and the perceived costs of a plan. (4) Concerns about costs are driven by misperceptions; many firms are unaware of lower-cost options for employers and tax credits. (5) The survey results also suggest that state auto-IRA programs do not deter firms from offering a plan and may even encourage it.

Title
Small business retirement plans: The importance of employer perceptions of benefits and costs
Author
Chen, Anqi
Center
Center for Retirement Research
Genre
report
Date Issued
October 2023
Publisher
Center for Retirement Research at Boston College
Series Title
Special report
Persistent Link
http://hdl.handle.net/2345/bc-ir:109814
Use Restrictions
These materials are made available for use in research, teaching and private study, pursuant to U.S. Copyright Law. The user must assume full responsibility for any use of the materials, including but not limited to, infringement of copyright and publication rights of reproduced materials. Any materials used for academic research or otherwise should be fully credited with the source. The publisher or original authors may retain copyright to the materials.
Subject
Financing Retirement

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