Small business retirement plans

Chen, Anqi. “Small business retirement plans”. Issue in Brief 24-7, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, March 2024. http://hdl.handle.net/2345/bc-ir:109919.
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Abstract

The brief's key findings are: (1) Our 2023 Small Business Retirement Survey looks at why some small firms offer a retirement savings plan and others do not. (2) Factors that affect whether small firms offer a plan include firm size, wages, and industry, as well as beliefs on whether it will help attract workers. (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 results also suggest that state auto-IRA programs are more likely to encourage than discourage firms from offering their own plan.

Title
Small business retirement plans: How firms perceive benefits & costs
Author
Chen, Anqi
Center
Center for Retirement Research
Genre
report
Date Issued
March 2024
Publisher
Center for Retirement Research at Boston College
Series Title
Issue in Brief
Series Number
24-7
Persistent Link
http://hdl.handle.net/2345/bc-ir:109919
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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