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Study: Costs continue to hamper retirement plan offerings

According to a new Transamerica study, of the companies that currently don't offer a retirement plan 74 percent indicate they're "not at all likely" to offer a plan in the near future - a dramatic jump from 43 percent the prior year.

By Jenny Ivy | Updated on June 23, 2010

Cost-related concerns continue to hamper the decision to offer retirement plans, especially among small businesses. According to a new Transamerica study, of the companies that currently don’t offer a retirement plan 74 percent indicate they’re “not at all likely” to offer a plan in the near future – a dramatic jump from 43 percent the prior year.

A positive, however, is that nearly half of employers (49 percent) that responded to the 11th Annual Transamerica Retirement Survey expect their company’s financial situation to improve over the next 12 months, compared to only 29 percent in the year prior. More than 80 percent of companies reported they now offer a 401(k) or similar employee funded plan, up from 78 percent the previous year.

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