Fewer than one in seven women-owned small businesses offer employees an employee-funded retirement plan, a new report reveals.
Nationwide Financial published this finding in a summary of results from an August online survey of 501 U.S. small business owners with 1-100 employees and 202 women small business owners. The survey results are weighted to be representative of U.S. companies with 1 to 100 employees.
The survey finds that only 14 percent of women-owned small businesses currently offer their employees a 401(k) or other employee-funded retirement plan. And only 5 percent offer a company-funded defined benefit plan. Of those who plan to enhance employee benefits, the report adds, only 12 percent say they will add an employee-funded retirement plan.
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