Concerns about retirement are one of the leading causes of stress for working Americans.
Three out of four American workers are “highly anxious” about their retirement outlook1 and a recent survey of human resource professionals found that financial stress levels adversely affects workers’ performance.2
In addition, employers believe that financial education for employees reduces stress and boosts productivity2. Financial advisors working with small business employers play an important role in helping clients find the right retirement plan for their businesses while educating employees on the benefits of saving. You can play a key role in helping your employer clients increase their employees’ financial preparedness by educating workers about retirement planning, which can lead to a more productive, engaged and loyal workforce.
Small Business Retirement Plan Tools and Resources
OppenheimerFunds provides advisors with a full suite of financial education tools and resources to assist your small business clients and their employees in seeking to achieve financial preparedness in retirement.
You can start by informing your small business owner clients and their employees of the benefits of a retirement plan. Help employers understand their small business retirement plan options and outline the advantages to them, including:
- Tax deductions for plan contributions; and
- Creating a valuable benefit that may help attract and retain employees and lead to a more motivated, committed workforce.
Engaging with clients’ employees can help get them on the path toward financial fitness and retirement security:
- Review their financial goals with them;
- Explain the Five Simple Steps to a Retirement Plan;
- Demonstrate the benefits of enrolling in or increasing deferrals;
- Establish an asset allocation that will help them meet their financial goals using OppenheimerFunds tools and resources; and
- Account for Social Security benefits.
Retirement Plans for Small Business
OppenheimerFunds offers a variety of small business retirement plans to meet the needs of virtually any small business. We have been serving investors for more than 60 years, providing the investment solutions, programs, and services your small business clients and their employees need to help reach their retirement savings goals.
The potential advantages of investing with OppenheimerFunds are many, including:
- A comprehensive lineup of investment options that cover more than 50 strategies, including global and U.S. equities, fixed income and alternatives;
- Share class flexibility, including Class R retirement shares; and
- Our Portfolio Builder program that enables you to create and manage customized portfolios for clients and rebalance accounts automatically or on demand (up to four times a year).
At OppenheimerFunds our approach to the Right Way to Invest encompasses four key principles:
- Make Global Connections
- Look to the Long Term
- Take Intelligent Risks
- Invest with Proven Teams
Call your Regional Advisor Consultant at 800 255 2750 for assistance with plan installation and ongoing support.
Follow @OppFunds for more insights.
1 The Continuing Retirement Savings Crisis, Nari Rhee, Ph. D, and Ilana Boivie, National Institute on Retirement Security, March 2015.↩
2 Financial Wellness at Work. Consumer Financial Protection Bureau, August 2014.↩
These views represent the opinions of OppenheimerFunds and are not intended as investment advice or to predict or depict the performance of any investment. These views are as of the publication date, and are subject to change based on subsequent developments.