Employers often match or contribute to employees’ savings, increasing retirement funds faster.
Contributions are tax-deferred, reducing current taxable income, while investment growth is sheltered until retirement.
Investments are managed by experienced professionals, reducing the need for employees to make complex financial decisions.
Automatic payroll deductions make saving disciplined and consistent.
Enhances recruitment and retention by offering a valuable long-term benefit.
Provides a predictable source of income or lump sum for employees upon retirement.
Some plans offer early retirement options, survivor benefits, or portability if employees change jobs.
