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The report’s key findings are:

  • Our 2023 Small Enterprise Retirement Survey gives an in-depth have a look at why small companies do or don’t supply a retirement financial savings plan.
  • Corporations that consider retirement plans assist with hiring and retention are more likely to supply a plan now or within the close to future.
  • The principle boundaries to providing a plan are considerations concerning the stability/measurement of the agency and the perceived prices of a plan.
  • Considerations about prices are pushed by misperceptions; many companies are unaware of lower-cost choices for employers and tax credit.
  • The survey outcomes additionally counsel that state auto-IRA applications don’t deter companies from providing a plan and will even encourage it.

The analysis reported herein summarizes the 2023 Small Enterprise Retirement Survey, which was produced in collaboration with Worker Profit Analysis Institute and Greenwald Analysis. The Middle for Retirement Analysis gratefully acknowledges Financial institution of America for supporting this analysis.

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