Summit Financial: Fact or Fiction: Are Small to Mid-Sized Businesses Reluctant to Start 401k Plans?

By Christopher Carosa, CTFA

There’s been much talk recently concerning the lack of 401k accessibility. If one looks at the data, though, we see two important facts. First, despite the growing use of auto-enrollment, a surprisingly large number of eligible employees are not taking advantage of making tax deductible contributions to their 401k plan. Second, for all their value in attracting quality employees, an equally surprising large number of companies fail to sponsor 401k plans. Curiously, the same source may be responsible for both of these facts.

Read more