Small-business retirement plans

As a small-business owner, it’s so important to feel confident in the choices you make for your company and your employees. Knowing you have the right retirement offering is no exception. Lincoln can help you make sure you’ve got a plan that works.
   

Review and improve your company’s current plan

Why review your retirement plan?

You’ve made the decision to help your employees save for the future. Why not make the most of your offering? A plan checkup can help. By evaluating your plan with your advisor, you can make sure it’s set up to meet your business needs over time and help employees reach their savings goals. It’s a good way to track your plan’s health or even help decide if it’s time to move to a new provider.

Improve your plan

Investment choices and performance
Do your current investment options help maximize employees’ contributions to the plan?

  • Solution: Investment lineups tailored to your business goals and employee demographics may make an impact on investment performance and help employees reach their savings goals.

Plan expenses
Do you understand the expenses associated with your plan?

  • Solution: Analyzing expenses in a plan review may uncover cost inefficiencies or lack of transparency with your current provider.

Fiduciary protection
Does your plan position you to meet your legal obligations to participants?

  • Solution: Ensure your plan is compliant and transparent, meeting regulatory standards, so it can continuously operate in your employees’ best interests.

Participant experience
Do your employees understand the value of your offering and participate in the plan?

  • Solution: Ongoing education and communication can encourage employees to become plan participants and make smart saving decisions when they do. It can also help position participants for better savings outcomes in retirement.
Offer a retirement plan to your employees

Why offer a retirement plan?

Giving employees the opportunity to participate in a retirement plan can make a big impact for your business and your workforce.

For your employees

  • Personal financial goals: Participating in a retirement plan at work can help employees reach their personal savings and estate planning goals.
  • Job satisfaction: 89% of surveyed employees said retirement benefits were important or very important to their overall job satisfaction.1

For your business

  • Employee engagement and productivity: 53% of surveyed employees report that having access to retirement planning programs would be helpful in increasing their productivity at work.2
  • Tax advantages: You may receive tax deductions on matched contributions and potentially reduce employee taxable income via pretax contributions.
  • Recruitment and retention: Offering a way to save for the future can be a powerful tool for attracting and retaining top talent.

1SHRM, Employee Job Satisfaction and Engagement Survey Report, 2015.
2EBRI, 2017 Retirement Confidence Survey.

Help employees engage with your plan

Retirement planning tools for your participants

At Lincoln, we believe planning is the key to retirement. Our online retirement tools and calculators can help them prepare.

Calculators and planning resources:

  • Cost of delay planner—shows participants how much they may have for retirement if they start saving today
  • Small change, big savings planner—displays the impact small savings can have on building retirement assets
  • Debt planner—helps participants create a debt repayment plan
  • Contribution planner—illustrates how much a 2% increase can impact a participant’s paycheck and savings
  • Retirement planner—helps participants determine if they are on track to meet retirement savings goals
     

  
Lincoln Retirement Plans for small businesses

You play a role in helping your employees successfully retire—and we want to help you by making it as easy as possible to deliver the right plan.

A balance of technology and expertise—with a personal touch

We understand your unique challenges and goals as a small-business owner, so Lincoln strikes a balance to meet your needs. We provide technology that makes your plan easy to administer and engage in, the personal touch of a dedicated support team, guidance to meet your legal obligations, and investment expertise to help make the most of your offering.

Here’s what we deliver when you offer a retirement plan from Lincoln:

TECHNOLOGY

  • Customized, secure plan sponsor website that shows you essential plan information at a glance
  • Personalized participant website that encourages active participation and increased savings
  • Plan Health Dashboard that provides real-time data and insight on your plan’s performance

SUPPORT

  • Dedicated, responsive account management team that provides the assistance and information you need, when you need it
  • Personalized retirement plan service and guidance to encourage employee participation


TRANSPARENCY

  • Access to 3(21) and 3(38) fiduciary services to help you with your legal obligations to participants
  • Annual plan reviews to help your plan stay on track to meet its goals
  • Professionally managed accounts that help protect participants’ retirement savings through changing markets

EXPERTISE

  • Predesigned or customized fund lineups, suited to your workforce demographics
  • Access to a range of target-date fund options, any of which may be used as a plan’s Qualified Default Investment Alternative (QDIA)
  • Access to a suite of quality investment options from leading fund families