Subscribe for 50% off

Implementing Retirement Plans for Staff

Add value to your business with an employee retirement plan.

This story appears in the September 2006 issue of Entrepreneur. Subscribe »

When Gini Dietrich hunts talent for her 15-person Chicago PR company, she can tell candidates they'll be fully vested in the company's 401(k) retirement plan after a year. "It really allows me, as a small-business [owner], to compete with the big PR firms," Dietrich, 33, says of her employee retirement plan.

Having any retirement plan places Arment Dietrich Inc. among a small and shrinking minority of entrepreneurs. A 2005 Union Bank of California study of its small-business customers found that 75 percent offered no retirement benefits. Plus, the number of companies with less than $1 million in annual sales that had no retirement plan grew by 6 percent over the previous year.

Cyber Monday Subscription Sale - Unlock this subscriber exclusive article and more for 50% off.

Access all Entrepreneur content with no ads, unlock discounts, and get exclusive advice only available to our subscribers. Plus, our magazine delivered straight to your door.
Get 50% off an annual subscription today. Just use code SAVE50 at checkout.

Entrepreneur Editors' Picks