If Your Company Isn't Offering a Retirement Plan - Why Not?

Posted By Brandy King
May 20, 2022 Category: 401(k), MEP, Retirement Plans, Employee Benefits, Employee Retention

The pandemic has taught businesses a lot – patience, flexibility, ingenuity, and most importantly – the value of your employees. Now more than ever, workers (and candidates) have become very selective about who they work for, and what they expect from their employers. That could mean pay scale, paid time off, flexible schedules, health insurance, retirement plans and other benefit offerings. Some of these things are fairly easy to offer, and others more complicated or costly. One thing is certain – if you’re not competitive with benefit offerings, you stand to lose good employees to a business that is.  The assumed cost and administrative work involved with setting up and maintaining a retirement plan is the reason many employers give for not offering one, or not making a move to a better plan. Spooner’s 401(k) MEP (multi-employer plan) gives businesses the ability to provide this valuable benefit with minimal effort and start-up costs. A multi-employer plan doesn’t mean it’s a one-size-fits-all plan design. Those details will still be determined by the employer with the guidance of our partner, Vantage Financial. Vantage acts as the co-fiduciary on the plan, and will provide you and your employees with the same helpful advice as they have with our own staff. From gauging what type of investor they want to be, to projections that can help them meet their goals - our teams will work together to help your workforce plan for the

A Closer Look Inside Spooner's 401(k) MEP

Posted By Brandy King
August 04, 2021 Category: 401k, MEP, Retirement Plan, Retirement Savings, Benefits, Employee Retention, Investment,

We've shared a few details about our multi-employer retirement program in the past, but now we're taking a deeper dive into the details of Spooner's 401(k) offering that can be tailored to suit any size business, in virtually any industry. We'll outline details on both the employer and partcipant experience, as well as a true look at the fee structures involved. Some businesses have entered our MEP as a first-time offering to employees, and some have transfered assets from an existing plan into ours, saving them thousands on fees.  Take a closer look by clicking here, and reach out to our team with any