Midlands Business Journal has quoted Kutak Rock partner John Schembari in the article “Employers look to attract employees with competitive retirement packages.” The article, dated October 19, 2018, covers different retirement plans offered by employers.

In the article, Schembari explains various retirement plan designs, including traditional, “nonqualified” deferred compensation and profit-sharing. According to Schembari, “Employer-sponsored retirement plans remain one of the best ways for employers to save for their own retirement.” He also remarked, “Employers with highly compensated employees will sometimes offer ‘safe harbor’ 401k plans as a means of allowing the highly paid employees to max out on their contributions.”

in today’s market with very low unemployment, more and more employers are increasing the benefits they offer their employees in a retirement plan as a means of attracting and retaining employees.