Charity Therapy
Your nonprofit is doing well, but you're worried you'll lose good employees if you don't offer retirement benefits. You've heard of a 401(k), but is that the right move?
I'm joined by Christopher Tipper of Hunter Benefits Consulting Group to break down retirement benefit options for small nonprofits. Christopher helps us wade through the alphabet soup of 403(b)s, 401(k)s, and simple IRAs.
Real Listener Question:
"I'm an Executive Director of a small org, and I've been advocating to my board that it's time to offer more benefits, including a 401(k). I realize it's a selfish ask since I'd benefit too, but I think it would help us recruit and retain good people. I started researching and I'm already in over my head. How do I even begin?"
Christopher and I walk through the retirement plan options that actually make sense for small nonprofits, why the 401(k) isn't always the best fit, and what the ED needs to know before pitching this to their board.
What You'll Learn:
Bottom line: If you're the ED asking whether it's a conflict of interest to advocate for retirement benefits, stop worrying. The board decides. Your job is to make the case, not to feel guilty about being included.
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