Retirement Plans “A Paradigm Shift For Farm Operations and Employee Retention.”

Chris visits with Travis Martinek with Benchmark Financial in Cedar Falls, Iowa about various retirement options to offer yourselves, family members, and your employees through your farming business. As farm operations continue to grow in size, attracting quality labor and retaining skilled employees continues to be a struggle for many operations. Offering some type of retirement plan is a an excellent way to enhance compensation, while at the same time, receiving tax benefits, for both the employer and the employee. Travis goes on to explain the nuts and bolts of simple IRAs versus 401(k)s and considerations as you decide which type of retirement plan makes the most sense for your individual business. There are lots of “helpers” out there that are willing to provide this information and services, but be extremely careful on rates, fees, and commissions associated with these services. We’ll be sure to follow up in future podcasts with more details in this area. If you have specific questions, you can reach out to Travis: travis@benchfn.com