Retirement Planning
The idea of retirement seems nice on its face. Most people would enjoy relaxing with family, devoting attention to hobbies, and spending time on leisure. However, 60% of Americans are worried about not having enough money to meet their needs once they stop working. This fear tops the list of financial worries. Financial insecurity beats out health care costs, paying off debt, and any other issues.
As roughly 10,000 Americans turn retirement age every single day, this is a staggering number of people dealing with the fear of financial insecurity.
In light of these well-founded concerns, employees have been more involved and interested in retirement planning since 2010. For mid- and late-career employees, this type of planning is their number one priority. According to the Towers Watson 2014 Global Benefit Attitudes Survey, over half of employees are willing to trade cash compensation for more generous retirement benefits.
Opportunity for Employers
These facts present an opportunity for employers to attract and retain top talent. Half of those with six-figure incomes and above identify their retirement security as a reason to stay with their company. The appeal of a secure retirement is the strongest among mid-career and older employees.
Not only are employers able to attract and retain top talent with retirement programs, they can also ensure that talent is performing at their highest level of productivity. The Towers Watson Survey shows that employees who are satisfied with their retirement plan are five times more likely to be more productive at work.
As companies have dealt with the strain of a weak economy over the last several years, they have asked more of their employees. This has presented organizations with the challenge of employee burnout, in addition to the ongoing challenge of attracting and retaining top talent.
As employees seek greater financial security, employers have an opportunity to tailor their benefits packages to address the concerns of retirement and financial security for the future.
- – Defined Benefit Plan
- – Defined Contribution Plan
- – Profit Sharing Plan
- – Employee Stock Ownership Plan (ESOP)
- – Traditional 401(k)
- – ROTH 401(k)
- – Roll-over 401(k)
- – Simplified Employee Pension (SEP)
- – Inherited IRA
- – Attract and retain key people
- – Motivate and reward executives
- – Provide selective fringe benefits
- – Non-Qualified Plans
- – Stock Options
- – Stock Appreciation Rights
- – Performance Based Succession Plans
- – Leveraged Management Buy-Outs
Our planning process is designed to increase your comfort in making decisions about and properly integrating these planning tools. Marion Consulting, LLC has established relationships with a unique network of top performing professionals to deliver customized Wealth Accumulation and Retirement Security for Key-Executives. We collaborate with the “best of the best”. The result is an all-star team of financial, insurance, legal and tax experts with specialized, cutting edge and long-term experience working with closely held business enterprises