Have you heard of the new IRS website for small businesses? In an attempt to make it easier for small businesses to find the right retirement plan, the IRS has rolled out the IRS Retirement Plan Navigator. It is tagged as “An easy retirement plan guide for small employers”. It’s main content is directed to choosing, maintaining and correcting a plan. As well as providing a plan comparison table.
Do you think a website like this really works? It does accomplish providing a comparison based on very broad information. Does that really help an employer? Or does it just confuse them? I guess I just feel bad for the small businesses out there, trying to do all of this themselves. It must take a lot of time and effort. Isn’t it just easier to have a trusted professional do it for you?
What other options does an employer have? They can do the research themselves or they can find someone to do it for them. At the very lease they will need an investment company/person to work with no matter what their plan. Isn’t it easier to just start their and find a trusted investment person to help you figure out which plan is best? Do they feel it is easier to deal with the person that answers the 800 number after they’ve done all the research themselves? The time it must take to figure out what type of plan they want and who they want it with. How many man hours do they put into this research?
What can you do to help? Most employees feel helpless about their retirement plan options. Have you talked to your employer about it? Better question, do you know who to talk to? Take 5 minutes out of your day and let the HR department or CFO or owner of your company know what you think of their retirement plan. If you love it, tell them. If you hate it, tell them. Just make sure to tell them why you feel the way you do so that they know what kind of job they are doing and how to make it better. This information will be a lot of help to a good employer, trust me. Send me an e-mail and let me know how you feel about your employer plan. I’m interested and maybe I can help if you need it.
Related posts:
