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June 16, 2025

Why Partnering With You Is a Smart Move for Small Business Retirement Planning

Tax credits, flexible options, zero fees—and your guidance.

To close the retirement savings gap, several states now require small businesses to offer retirement plans to employees—or enroll them in a state-run program. This shift creates new opportunities for annuity sales and financial guidance, as many small businesses seek help navigating complex mandates.

As of 2024, more than 40% of U.S. small businesses still do not offer a retirement savings plan to their employees.* This marks a modest improvement from the earlier figure of over 66%, indicating a growing awareness and adoption of retirement plans among small business owners.

Business owners now have three options

If defaulting to the state program, employers must register with the state, enroll eligible employees, set up payroll deductions and provide regular notices. Fees vary by state and employees can opt out after enrollment.
• 401(a) – Qualified Plan (including profit-sharing plans and defined benefit plans)
• 401(k) plans (including multiple employer plans or pooled employer plans)
• 403(a) – Qualified Annuity Plan or 403(b) Tax-Sheltered Annuity Plan
• 408(k) – Simplified Employee Pension (SEP) plans
• 408(p) – Savings Incentive Match Plan for Employees of Small Employers (SIMPLE) IRA Plan
• Payroll deduction IRAs with automatic enrollment (CA only)
Fines range from $100 to $500 per employee for non-compliance.

 

Why should business owners work with you?

You offer more than just compliance—you offer value:

Tax credits: Help clients take advantage of federal credits for plan startup and administration
Zero fees: Competitive plan structures with no direct employer fees
Custom strategies: Tailored retirement solutions that fit their business model
Your expertise: Personalized support navigating state rules and investment choices

Below are just a few of the resources National Life provides to support you in this market.

 

retirement business marketing

 

We’re Here to Help

Click here to contact your Retirement Services Relationship Manager.