While 67% of private industry workers had access to employer-provided retirement plans in 2020, only 52% had access only to defined contribution retirement plans. Just 12% had access to both defined-benefit and defined-contribution retirement plans. Wait a second. You mean there are different types of retirement plans and different ways in which you can contribute to them? Yep!
It’s no secret that the pandemic has changed everything. However, for most workers, it’s completely turned their world upside down. Employment engagement has been a tough thing to tackle for most small business owners. Why?
Topics: Business|Retirement, Business - Mid Stage, Business - Late Stage
Illinois business owners, listen up! Did you know that if you are a small business owner in the State of Illinois and you have over 25 employees, your deadline to meet the state’s retirement requirements was over two years ago on November 1st, 2019? If you have between 15-24 employees, your deadline is quickly approaching on November 1st, 2022. And, for those with 5 or more employees, you’ll need to be compliant by next year.
If you enjoy reading this blog, then you will enjoy our FREE eBook Wealth Stack: The guide to funding your Veteran led book