When you take care of your employees, they often return the favor by displaying loyalty and commitment to your business. A company-sponsored retirement plan shows employees you care about their future and provides a benefit that helps you compete for quality employees.
However, there are many complex variables that go into making a retirement plan successful, and analyzing all those factors can be difficult for both planning committees and plan participants to wrap their heads around.
Retirement Calculators and Data Assumptions
One set of tools widely used throughout the industry to help guide individuals through the process of investing wisely in their 401(k) is retirement calculators. These are usually financial tools that allow users to input certain personal data points, such as annual income and current portfolio allocation, to help them determine how to achieve their retirement goals.
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