The remodeling industry has a growing problem on its hands that must be addressed immediately.
Employee Retirement Plans in Reach
To stay competitive in the tight job market, more remodelers are offering retirement benefits.
To stay competitive in the tight job market, more remodelers are offering retirement benefits. It used to be too expensive for an employer with fewer than 50 employees to offer such a retirement plan, but today the cost to the employer can range from nothing to roughly $2,000 a year and includes high-quality investments for employees. Because not every small employer can pay $2,000 per year to run a 401(k), sharing costs with employees is another possibility. And if you can’t afford any administrative costs at all, a Simple IRA might be your best choice.
For more information on retirement plans, visit www.troweprice.com/smallbusiness.
Source: Wall Street Journal