Group Retirement Benefits: Investing in Your Team’s Future

Offering a group retirement plan is an excellent strategy for attracting and retaining top talent at your college. A well-designed group retirement savings plan, such as a Registered Retirement Savings Plan (RRSP) or a Defined Contribution Pension Plan (DCPP), allows employees to build a secure financial future while benefiting from employer contributions. These plans offer tax advantages for both employees and employers, making them a valuable component of a comprehensive employee benefits package. Employees appreciate the opportunity to save for retirement with contributions that are often matched by the employer, enhancing job satisfaction and loyalty. For the college, offering such benefits can reduce turnover and help recruit qualified staff, which is crucial in the competitive education sector. To design an effective plan, work closely with a financial advisor who understands both your budget constraints and the retirement goals of your employees. Regularly communicate the benefits of the plan through workshops or individual counseling sessions to ensure employees fully understand and utilize this offering. Promoting the group retirement plan during recruitment and employee engagement activities not only strengthens your workforce but also contributes to your college’s long-term success and reputation as a desirable place to work.

NACC has partnered with HUB Insurance to provide a one-stop-shop for Commercial Insurance, Employee and Student Benefits, Group Retirement, Surety and Personal Insurance. To discuss your college’s unique needs please complete the form found here: HUB Inquiry Form