A recent survey conducted online by Harris Poll on behalf of Nationwide found that 29% of SMBs with less than 300 employees who offer 401(k) retirement plans and plan to increase contributions say that they are doing so because the ACA has made health benefits less attractive to employees. Additionally, 43% of SMBs who plan to increase contributions to their company’s 401(k) plan say they are doing so because their plan is now more important for attracting and retaining employees as a result of the ACA.
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For business owners who don’t currently offer retirement benefits but plan to start in the future, 23% say it is because a 401(k) plan is now more important for attracting and retaining employees as a result of the ACA.
“The changing healthcare marketplace has created an opportunity for business owners to increase investment in retirement benefits offered to employees,” says John Carter, president of Nationwide’s retirement plans business, in a press release. “Business owners who help their employees prepare for retirement can differentiate their business as a destination for top talent and a place where valuable workers want to stay.”