Pros and Cons of Retirement Plans

There are strong advantages and disadvantages to offering retirement benefits.

The pros. Here are some reasons why you might want to offer a retirement plan:

The cons. Here are some reasons why you might want to forego offering a retirement plan:

More than likely, if you're just starting up, you're going to have greater worries than the intricacies of how a retirement plan can best serve your needs. If anything, there are other less burdensome, more valuable benefits that you can provide to your employees, such as health insurance, time-off benefits, disability insurance, and life insurance.

If you're still considering a retirement plan, make sure you understand the basic differences in plan types. Then you should try to determine why you want to offer a plan and what your goals are.