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Learn how a 401(k) plan can help you and your employees. 

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Learn how a 401(k) plan can help you and your employees.

Get a quote

Business is changing. What about your benefits?

With small businesses growing at a record pace, it’s getting a lot harder to attract and retain good talent. To stay competitive, your benefits may need a refresh.

In the past, cash was king. Today, total benefits rule. A growing number of employees say they prefer a retirement plan over a pay raise.1 And 4 in 5 small business employees now expect their employer to offer a plan such as a 401(k).2 

A retirement plan is no longer just a "nice to have." It's now seen as a "need to have" benefit for you to remain competitive and keep your employees satisfied. Now's the time. Don't let not having a retirement plan be the reason why you lose your business's most valuable asset — your people.

Why start a 401(k) plan?

Helps you and your employees save for retirement. 

Helps attract and retain top talent.

Provides tax advantages for you — and employees.

Starting a 401(k) plan at your small business could make a big difference.

It can help boost morale, loyalty and, most importantly, retirement savings for employees.

3 in 4 employees say good employee benefits … 
Encourage them to work harder and perform better.3  
Keep them working for their current employer.3
Employees with a retirement plan are nearly twice as likely to be at least somewhat confident in their ability to save enough for a comfortable retirement as those without a plan.4
And 9 in 10 say their employer-sponsored retirement plan made it easier to save and helped them think about the long-term and not just their current needs.5 

Employers and their businesses benefit too.

When employers added a retirement plan, it helped alleviate their talent concerns.

9 in 10 say it helped attract and retain employees.6
Half reported attracting better quality employees.7
9 in 10 say it had a positive impact on employee performance.6

Employers said it helped them too.

1 in 3 say offering a 401(k) reduced personal taxes and business taxes.7

And most importantly, employers who offer a plan are more financially prepared for retirement themselves, as it's a great savings vehicle for them as well.

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1 Employees Want Plan Features That Accelerate Retirement Savings, American Century Investments, 2017.
2 Lincoln Financial Survey, May 2017.
3 Principal Well-Being Index – Employees, Principal, December 2017.
4 Retirement Confidence Survey, EBRI, April 2018.
5 American Views on Defined Contribution Plan Saving, Investment Company Institute, February 2018.
6 Employer Barriers to and Motivations for Offering Retirement Benefits, Pew Charitable Trusts, June 2017.
7 401k Small Business Retirement Planning Index, Capital One, July 2017.

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The subject matter in this communication is educational only and provided with the understanding that Principal® is not rendering legal, accounting, investment advice or tax advice. You should consult with appropriate counsel or other advisors on all matters pertaining to legal, tax, investment or accounting obligations and requirements.
Insurance products and plan administrative services provided through Principal Life Insurance Co. Securities offered through Principal Securities, Inc., 800.547.7754, member SIPC and/or independent broker-dealers. Principal Life, and Principal Securities are members of the Principal Financial Group®, Des Moines, Iowa 50392. 

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