Retirement benefits made easy.
For many small businesses, being able to offer an affordable retirement plan to employees has been a luxury they could not afford.
The Retirement Marketplace offers businesses a simple way to offer a retirement plan as an employee benefit. All the plans have been verified and approved by the state and there is no cost to a business.
The Retirement Marketplace helps you attract talented workers, reduce employee turnover and increase your competitiveness without increasing costs. It is also good for morale. Employees who feel good about their financial future experience less stress and illness, reducing absenteeism. And when workers have the option to participate in a retirement plan at work, they’re 15 times more likely to save for retirement.
Choose what works for you.
The Retirement Marketplace offers several 401(k), IRA and profit sharing plans. Let your employees choose on their own plan or offer a specific plan as an employee benefit. Employees enroll directly with the plan provider.
You can also choose to make contributions to your employees’ retirement. Your employer contributions are tax deductible (up to a certain limit), which can reduce your tax burden. It’s a win-win for you and your workers.
For employees, annual administrative fees are capped at 1% and most plans have fees that are lower than that. There are no administrative fees for employers.
Want to know more?
Visit the Retirement Marketplace or email the Marketplace at RetirementMarketplace@commerce.wa.gov.