MAR 24, 2021
Your business’ health and well-being are essential to our local economy. Following a year that exhausted whatever savings many businesses had, and exacerbated long-standing economic inequities, SBN wants to see your business grow and thrive while making sure that you and your employees are protected.
Through the help of our partner and member Entrust Financial, we are launching 401(k) retirement options to the diverse local independent businesses in our network that also invest in social and environmental good. Entrust Financial is a small, local, women-owned B-Corp, and SBN has partnered with this boutique wealth management firm to ensure that our 401(k) retirement plans were focused on impact investing.
Why should you consider a 401(k) plan for your business?
It’s an easy way to help you and your employees save for retirement, while also acting as a valuable recruiting and retention tool. Research shows that half of American families have no retirement savings, and less than half of small businesses offer a retirement plan.
SBN’s 401K plans allow you and your employees to put money into funds that invest capital back into our local economy and were specifically curated with the mission and values of the triple bottom line in mind..
Why impact investments?
By offering impact investments in a 401(k) menu of options, you can direct where your money is going. Impact investments may proactively advocate for core business values in the companies in which they invest. They can also avoid the purchase of companies who persist in putting company profits before people, the planet, and governance issues.
Here’s what else you should know about the SBN 401(k) retirement plan:
- The plan is open to all current members, both those who do not have a plan in place and those who may want to switch from their existing plans.
- Entrust Financial serves as the plan’s investment advisor, helping local business owners fulfill their fiduciary duty and educate their employees on impact investing.
- Entrust Financial offers a Second Opinion Service specifically for existing 401(k)s, where they help you review your current plan, educate you on your fiduciary duty and best practices as an employer, and evaluate whether they can help you further align your benefits package with your values as a business.