Productive employees are key to the success of your business. Employees that are financially unprepared are 16% less likely to say they are productive on the job. Those reporting high stress levels reported the state of their finances were partially or entirely to blame. We’ve got a solution for you.
A group retirement savings plan (GRSP) for small business is a simple way for employers to offer their employees a way to save money for retirement. Employees benefit from low fees and immediate tax savings through payroll deductions.
Why offer your employees a GRSP?
- GRSP is not just for big business. We can help you set up a plan with a minimum of 2 employees and annual contributions of at least $10,000. Totally do-able!
- Stand apart from your competition by offering Employees a Group Retirement Savings Plan.
- Financially prepared employees are motivated to do their best at work and report being 22% more engaged than those who struggle financially.
- GRSPs are easy to administer and track with online tools and support.
- Combined with a Deferred Profit Sharing Program (DPSP), an employer may also save money on payroll taxes.
How will your employees benefit?
- Investment Management Fees on contributions are typically lower than what individual employees can get on their own.
- Employees experience immediate tax savings when their contributions are made through payroll deduction. Bonus!
- Online tools help Employees gain a better understanding of their retirement goals, manage their account, and watch their savings grow.
Contact us to start building employee loyalty and engagement with a GRSP. Everyone deserves to relax, now you and your team can.