The report’s key findings are:

• Our 2023 Small Enterprise Retirement Survey supplies an in-depth take a look at why small companies do or don’t provide a retirement financial savings plan.

• Corporations that consider retirement plans assist with hiring and retention are more likely to supply a plan now or within the close to future.

• The primary boundaries to providing a plan are considerations concerning the stability/measurement of the agency and the perceived prices of a plan.

• Considerations about prices are pushed by misperceptions; many companies are unaware of lower-cost choices for employers and tax credit.

• The survey outcomes additionally counsel that state auto-IRA packages don’t deter companies from providing a plan and will even encourage it.