financial education . This is a great opportunity for plan sponsors to step up and provide meaningful information to participants in a way that is valuable to them . At that point , they will likely be willing to learn more about executing a retirement savings strategy as well .
• Offer options
Pre-tax and post-tax features and expanded investment and enrollment options give the employee an enhanced feeling of control , which can translate into higher enrollment numbers .
Another compelling feature is a strong matching program — especially one that ’ s tied to tenure or promotions .
In conjunction , making a Health Savings Account available is also an excellent way for workers to save for retirement . Since HSAs are never taxed , a small amount contributed to an HSA can really add up to significant income in retirement to cover medical costs .
Investing in your employees is key . Even better is finding the right balance between plan features and education to participant success in reaching their retirement goals . Give me a call to learn more .
by : Paul McEwan , CPA , MTax , AIFA ® Principal , Director of benefit plan services
Rea & Associates 122 Fourth Street NW
P . O . Box 1020 New Philadelphia , OH 44663
( 330 ) 308-6827 paul . mcewan @ reacpa . com