A recent SunTrust survey of 1,000 small business owners found 85 percent believe that a retirement plan is an important benefit to their employees, yet only six in 10 currently offer one.
While the idea of having a solid savings plan for retirement may be resonating with small business owners, they cite affordability as the main reason for not offering retirement plan options. Other reasons for not offering include ease of use once the plan is implemented (89 percent), ease of setting up a program (87 percent), fee transparency (87 percent) and quality and range of investment alternatives available (87 percent).
