Klarberg and Proctor pointed out some of the benefits of a retirement plan, including reducing personal taxes, saving for a plan using pretax dollars, growing savings on a tax-deferred basis, and receiving a business tax deduction for having a plan with employer contributions. All points lead to attracting and keeping good employees.
But despite the benefits and the need for an employer-contributed retirement plan, some employees simply don't think they need a plan, according to Klarberg. He said that a recent survey showed that 34 percent of workers are not worried about having enough money for retirement. "It is unbelievable how some people can be optimistic about having enough for retirement."