Funding Employee Retirement 'Perk' Key for Small Businesses National Underwriter (Life and Health Financial Services Edition) (10/15/01) Vol. 29, No. 21 p.22; Callahan, D. James
In order to draw and retain good employees, it is essential for companies large and small to provide adequate retirement benefits. Notably, small businesses have more options today in the realm of individual business life and business continuation plans. Wealthy individuals can supplement their retirement savings with a non-qualified retirement plan that can fill the gap that ERISA creates by capping the amount that high-income people can save for retirement. Qualified plans are advantageous in that they are not currently taxable, but regulations and restrictions placed on them can prove cumbersome.