Retirement Insights

Small Business Retirement Plans

Small Business Retirement Plans

Small Business Retirement Plans:
How Firms Perceive Benefits & Costs

Research from the Center for Retirement Research at Boston College

Only about half of US private sector workers are covered by an employer-sponsored retirement plan, largely due to limited coverage among small businesses. A recent survey of small employers indicates this coverage gap is caused by revenue uncertainty and/or size, administrative burdens and costs, and impact on employee hiring and retention. For retirement advisors and consultants, these findings underscore a clear opportunity to educate small business clients on the range of accessible, cost-effective retirement plan options that can play a critical role in closing the coverage gap. Notably, the growth of state-sponsored programs may encourage, rather than deter, employer plan adoption.

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Since 2018, First Eagle Investments has collaborated with the Boston College Center for Retirement Research (CRR) to develop actionable insights and tools for plan sponsors, consultants and financial professionals. Leveraging CRR’s decades of scholarly research and First Eagle’s many years of practical experience, together we are committed to serving as a steadfast resource in support of American workers’ journey toward secure retirement. 

This content is part of a series of wide-ranging insights that explore key challenges that retirement savers face in the years leading up to and while in retirement. Additional topics address how different workers save in their company-sponsored retirement plans, what affects spending in retirement, and the impact of healthcare expenses for different segments of the retiree population.

These materials are provided for informational purposes only. These opinions are not intended to be a forecast of future events, a guarantee of future results, or investment advice. Any statistics contained herein have been obtained from sources believed to be reliable, but the accuracy of this information cannot be guaranteed. The views expressed herein may change at any time subsequent to the date of issue hereof. The information provided is not to be construed as a recommendation or an offer to buy or sell or the solicitation of an offer to buy or sell any security. The information in this piece is not intended to provide and should not be relied on for accounting, legal, and tax advice. First Eagle Investments is the brand name for First Eagle Investment Management, LLC and its subsidiary investment advisers. ©2025 First Eagle Investment Management, LLC. All rights reserved. 

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