MY COMPANY IS TOO SMALL TO OFFER A PENSION PLAN

Not every American works for the Federal Government or some other big corporation, many work in small businesses who may think they can ill-afford to help their employees plan for retirement.  Employees can be assertive and ask their small business owners to consider setting up a retirement plan.  There are a number of ways to help employees prepare for retirement.  Many of these employees are dedicated to their employment and really enjoy working in a small-business with a family atmosphere as opposed to a huge organization.  However, they also desire to have good benefits similar to what their counterparts enjoy in larger companies.  Perhaps, they cannot have exactly the same benefits profile, but they can have a retirement plan.

There are many types of plans and savings options employers can offer to employees that will help both employer and employee.  It is much too risky for employees to work in organizations for 20 years plus and have no means towards saving for retirement except via Social Security.  What the average person will receive from Social Security will hardly be enough to support them throughout their retirement years.  If you don’t have any kind of plan at your place of employment, take the initiative and speak with your coworkers about approaching your employer.

Owners of businesses are always more apt to listen to a proposal or a recommendation if there is some research to support the proposed recommendation.  Do some research about what kind of retirement plans small businesses similar in size and scope to the place where you work are offering employees.  Gather as much information as possible including some cost data and how both employee and employer can contribute to the plan.   You never know what is possible until you ask.

P.S.  Always Remember to Share What You Know.

Dianna Tafazoli